BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $82.50 Average Price Target from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $83.95.

BBIO has been the subject of a number of analyst reports. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Truist Financial boosted their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. HC Wainwright increased their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Wells Fargo & Company raised their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Finally, Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the company an “outperform” rating in a report on Thursday, February 12th.

Insider Buying and Selling

In related news, CFO Thomas Trimarchi sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the transaction, the chief financial officer owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the sale, the chief executive officer directly owned 695,686 shares in the company, valued at $50,047,650.84. This trade represents a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 227,095 shares of company stock valued at $16,099,240 in the last three months. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 2.1% during the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after buying an additional 347,074 shares during the period. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the last quarter. Farallon Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after acquiring an additional 806,463 shares in the last quarter. Aisling Capital Management LP raised its holdings in shares of BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after acquiring an additional 21,486 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock valued at $369,547,000 after acquiring an additional 902,648 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 2.1%

Shares of BBIO stock opened at $69.41 on Friday. The firm’s 50 day moving average is $72.97 and its 200 day moving average is $65.95. The stock has a market capitalization of $13.46 billion, a P/E ratio of -18.36 and a beta of 1.13. BridgeBio Pharma has a 12 month low of $28.33 and a 12 month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. During the same period last year, the company earned ($1.40) EPS. The company’s quarterly revenue was up 2521.2% compared to the same quarter last year. On average, equities analysts predict that BridgeBio Pharma will post -3.67 EPS for the current year.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.