BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $86.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by equities research analysts at Truist Financial from $80.00 to $86.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 15.63% from the company’s current price.

Several other research analysts have also recently issued reports on BBIO. Piper Sandler raised their price objective on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. The Goldman Sachs Group boosted their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price on the stock. Finally, Cantor Fitzgerald lifted their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.85.

BridgeBio Pharma Trading Up 0.1%

Shares of BBIO traded up $0.11 during midday trading on Thursday, hitting $74.38. 507,650 shares of the company’s stock traded hands, compared to its average volume of 2,313,896. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of -17.79 and a beta of 1.17. BridgeBio Pharma has a 1 year low of $28.10 and a 1 year high of $78.58. The firm’s fifty day moving average is $70.95 and its 200-day moving average is $57.40.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. BridgeBio Pharma’s quarterly revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.86) earnings per share. On average, equities research analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Hannah Valantine sold 25,484 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total value of $1,683,727.88. Following the completion of the sale, the director owned 7,465 shares of the company’s stock, valued at approximately $493,212.55. This represents a 77.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.15, for a total transaction of $2,526,000.00. Following the transaction, the chief executive officer directly owned 815,686 shares in the company, valued at $51,510,570.90. This trade represents a 4.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 547,215 shares of company stock worth $36,610,301. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBIO. Advisors Asset Management Inc. lifted its holdings in shares of BridgeBio Pharma by 40.9% in the 1st quarter. Advisors Asset Management Inc. now owns 12,700 shares of the company’s stock worth $439,000 after acquiring an additional 3,687 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BridgeBio Pharma by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,120 shares of the company’s stock valued at $3,224,000 after buying an additional 3,126 shares during the period. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the 1st quarter worth about $35,000. Intech Investment Management LLC lifted its stake in BridgeBio Pharma by 12.0% during the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock worth $2,542,000 after acquiring an additional 7,877 shares in the last quarter. Finally, Wealth Management Associates Inc. grew its position in BridgeBio Pharma by 19.0% in the 1st quarter. Wealth Management Associates Inc. now owns 8,980 shares of the company’s stock valued at $310,000 after acquiring an additional 1,435 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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.