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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $48.08.

BBIO has been the topic of a number of recent research reports. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a "market perform" rating on the stock. HC Wainwright restated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th. Scotiabank boosted their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 25th. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Leerink Partners decreased their price target on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, October 17th.

BridgeBio Pharma Trading Up 0.5 %

BBIO traded up $0.14 on Monday, hitting $28.26. 1,328,069 shares of the company were exchanged, compared to its average volume of 1,335,290. The firm has a 50-day moving average price of $26.41 and a two-hundred day moving average price of $26.08. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $41.04. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -11.73 and a beta of 1.05.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in BridgeBio Pharma by 19.5% during the second quarter. Rhumbline Advisers now owns 221,403 shares of the company's stock worth $5,608,000 after purchasing an additional 36,199 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of BridgeBio Pharma by 9.9% in the second quarter. Victory Capital Management Inc. now owns 382,717 shares of the company's stock valued at $9,694,000 after buying an additional 34,360 shares in the last quarter. Arizona State Retirement System grew its holdings in BridgeBio Pharma by 7.6% during the second quarter. Arizona State Retirement System now owns 30,857 shares of the company's stock worth $782,000 after acquiring an additional 2,171 shares during the period. Quest Partners LLC purchased a new position in BridgeBio Pharma in the second quarter worth $337,000. Finally, Daiwa Securities Group Inc. lifted its holdings in BridgeBio Pharma by 5,393.7% in the second quarter. Daiwa Securities Group Inc. now owns 35,709 shares of the company's stock valued at $904,000 after acquiring an additional 35,059 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

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.