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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $57.09.

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Scotiabank upped their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. HC Wainwright upped their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, UBS Group upped their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 31,543 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. This represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,410,217 shares of company stock worth $417,634,332. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the period. GAMMA Investing LLC lifted its holdings in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after buying an additional 382 shares during the period. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC lifted its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after buying an additional 1,514 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in BridgeBio Pharma in the fourth quarter valued at approximately $109,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Up 0.2%

NASDAQ BBIO opened at $33.74 on Friday. The stock has a market cap of $6.41 billion, a P/E ratio of -11.84 and a beta of 1.15. The company’s 50-day simple moving average is $34.40 and its 200 day simple moving average is $31.47. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. The business’s revenue was down 44.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) EPS. Research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current 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.