BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $91.0476.

A number of equities analysts recently weighed in on BBIO shares. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective for the company. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Mizuho lowered their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $66.27 on Monday. The firm has a 50 day simple moving average of $69.62 and a 200-day simple moving average of $71.96. BridgeBio Pharma has a 1-year low of $40.19 and a 1-year high of $84.94. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of -17.72 and a beta of 0.98.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.88) earnings per share. Equities analysts expect that BridgeBio Pharma will post -2.29 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, Director Jennifer E. Cook sold 90,240 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $66.62, for a total value of $6,011,788.80. Following the sale, the director directly owned 6,589 shares in the company, valued at approximately $438,959.18. This trade represents a 93.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 261,994 shares of company stock worth $17,926,648 over the last 90 days. 14.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the 1st quarter worth $35,000. First Trust Advisors LP grew its position in BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after purchasing an additional 175,918 shares during the last quarter. Baird Financial Group Inc. grew its position in BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after purchasing an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at about $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BridgeBio Pharma by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after acquiring an additional 2,206 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.