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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has received an average rating of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.50.

A number of analysts have recently commented on BBIO shares. Scotiabank assumed coverage on BridgeBio Pharma in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $44.00 price target on the stock. Bank of America restated a "buy" rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price target for the company. Evercore ISI lowered their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Finally, HC Wainwright restated a "buy" rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 30th.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction that occurred on 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 owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,544 shares of company stock worth $150,128,821. Company insiders own 24.66% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently bought and sold shares of the stock. Bfsg LLC grew its position in shares of 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 last quarter. Headlands Technologies LLC acquired a new position in BridgeBio Pharma in the 2nd quarter valued at $48,000. Values First Advisors Inc. bought a new position in BridgeBio Pharma during the 3rd quarter worth $57,000. CWM LLC boosted its position in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company's stock valued at $88,000 after acquiring an additional 1,964 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of BridgeBio Pharma in the first quarter valued at about $117,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.49 during mid-day trading on Wednesday, hitting $24.45. 1,037,989 shares of the company were exchanged, compared to its average volume of 1,861,306. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32. The firm's 50 day simple moving average is $26.12 and its 200 day simple moving average is $26.54. The firm has a market cap of $4.58 billion, a P/E ratio of -7.59 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. The company's revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.98) earnings per share. On average, equities research analysts predict that BridgeBio Pharma will post -2.56 EPS for the current fiscal year.

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.