Mizuho Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its target price increased by equities researchers at Mizuho from $91.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 50.15% from the company’s current price.

Several other equities analysts also recently weighed in on BBIO. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price on the stock. HC Wainwright boosted their target price on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Oppenheimer dropped their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, William Blair initiated coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They set an “outperform” rating on the stock. Twenty-four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

BridgeBio Pharma Trading Down 0.5%

Shares of BBIO stock traded down $0.34 during trading on Wednesday, hitting $70.60. The company’s stock had a trading volume of 617,718 shares, compared to its average volume of 3,065,339. The business has a fifty day moving average of $72.86 and a 200-day moving average of $66.45. BridgeBio Pharma has a 52 week low of $28.33 and a 52 week high of $84.94. The company has a market cap of $13.69 billion, a PE ratio of -18.70 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same period last year, the firm earned ($1.40) EPS. The firm’s quarterly revenue was up 2521.2% on a year-over-year basis. As a group, research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the sale, the chief financial officer owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 510 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $74.31, for a total value of $37,898.10. Following the completion of the transaction, the chief accounting officer directly owned 123,945 shares in the company, valued at approximately $9,210,352.95. The trade was a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 237,084 shares of company stock worth $16,608,419 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at $41,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after buying an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $44,000. 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.