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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $52.90.

Several brokerages recently issued reports on BBIO. Bank of America lifted 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. Citigroup increased their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. HC Wainwright restated a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday.

BridgeBio Pharma Stock Down 1.3 %

Shares of NASDAQ:BBIO traded down $0.48 during midday trading on Friday, hitting $36.74. The stock had a trading volume of 3,292,791 shares, compared to its average volume of 2,136,198. The company's 50-day moving average price is $34.15 and its 200-day moving average price is $29.12. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The company has a market capitalization of $6.99 billion, a P/E ratio of -12.89 and a beta of 1.07.

Remove Ads

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

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,579,739 shares of company stock worth $323,171,901. Company insiders own 24.66% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently modified their holdings of the company. Ironwood Investment Management LLC lifted its stake in BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock valued at $1,733,000 after acquiring an additional 338 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock valued at $404,000 after acquiring an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 85.8% during the 4th 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. Mackenzie Financial Corp grew its position in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock valued at $261,000 after buying an additional 592 shares during the period. Finally, Xponance Inc. increased its holdings in BridgeBio Pharma by 9.1% during the fourth quarter. Xponance Inc. now owns 10,089 shares of the company's stock worth $277,000 after buying an additional 844 shares during the last quarter. 99.85% of the stock is 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.