BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of "Moderate Buy" from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $52.90.

A number of brokerages recently issued reports on BBIO. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Scotiabank lifted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Finally, Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th.

BridgeBio Pharma Price Performance

Shares of BBIO traded up $2.45 during mid-day trading on Friday, hitting $37.22. The company's stock had a trading volume of 4,338,810 shares, compared to its average volume of 2,136,277. The firm has a 50-day moving average price of $34.15 and a 200 day moving average price of $29.12. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -13.06 and a beta of 1.07.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 8,500 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total transaction of $282,115.00. Following the completion of the sale, the chief financial officer now directly owns 102,464 shares of the company's stock, valued at approximately $3,400,780.16. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock worth $323,171,901 in the last quarter. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC grew its holdings in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $109,000. Finally, Advisors Asset Management Inc. raised its stake in shares of BridgeBio Pharma by 56.1% in 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. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

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.