BridgeBio Pharma (NASDAQ:BBIO) Hits New 1-Year High - What's Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $39.47 and last traded at $38.04, with a volume of 636210 shares changing hands. The stock had previously closed at $36.29.

Analyst Ratings Changes

Several research firms have issued reports on BBIO. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, December 23rd. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Citigroup lifted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.67.

BridgeBio Pharma Stock Up 0.1 %

The stock has a fifty day simple moving average of $31.90 and a 200-day simple moving average of $27.93. The company has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Analysts predict that BridgeBio Pharma, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock valued at $122,612,036 in the last three months. 24.66% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after buying an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at $41,000. Sterling Capital Management LLC boosted its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the last quarter. Values First Advisors Inc. bought a new position in BridgeBio Pharma in the third quarter valued at about $57,000. Finally, CWM LLC increased its position in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after purchasing an additional 1,964 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.