BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $89.5909.

A number of research analysts recently commented on the stock. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup began coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective on the stock. Mizuho reissued an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Finally, William Blair began coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They issued an “outperform” rating for the company.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at $36,137,377.56. The trade was a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 171,754 shares of company stock valued at $11,914,859. 14.23% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in BBIO. Aster Capital Management DIFC Ltd bought a new stake in BridgeBio Pharma in the third quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the third quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma in the first quarter worth $35,000. Huntington National Bank lifted its stake in shares of BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after buying an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $66.80 on Monday. The company’s 50 day moving average price is $70.22 and its 200 day moving average price is $72.12. BridgeBio Pharma has a 52 week low of $38.57 and a 52 week high of $84.94. The company has a market capitalization of $13.08 billion, a PE ratio of -17.86 and a beta of 0.98.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, equities analysts forecast that BridgeBio Pharma will post -2.32 earnings per share for the current fiscal year.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.