BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $47.69.

Several research firms recently weighed in on BBIO. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating for the company. Scotiabank boosted their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a report on Monday, November 25th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price objective on the stock. Leerink Partners reduced their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 in the last three months. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Bfsg LLC grew its holdings in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock valued at $31,000 after purchasing an additional 790 shares during the period. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at $48,000. Values First Advisors Inc. purchased a new stake in BridgeBio Pharma in the 3rd quarter worth $57,000. CWM LLC raised its position in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after acquiring an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after purchasing an additional 1,645 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

BBIO traded down $1.31 during trading on Thursday, hitting $27.67. 1,827,606 shares of the stock were exchanged, compared to its average volume of 1,911,105. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -11.48 and a beta of 1.08. The firm has a 50 day simple moving average of $25.50 and a 200 day simple moving average of $26.11.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.