BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $98.00 at Piper Sandler

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by Piper Sandler from $93.00 to $98.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on BridgeBio Pharma in a report on Monday, July 14th. They set a “buy” rating and a $70.00 target price on the stock. HC Wainwright raised their price objective on BridgeBio Pharma from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. UBS Group raised their price objective on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Citigroup raised their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Twenty analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.05.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $63.37 on Thursday. The business’s fifty day moving average price is $53.64 and its two-hundred day moving average price is $45.34. The stock has a market cap of $12.11 billion, a PE ratio of -15.16 and a beta of 1.36. BridgeBio Pharma has a one year low of $21.72 and a one year high of $69.48.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $108.11 million during the quarter, compared to analysts’ expectations of $107.71 million. The business’s revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.86) EPS. As a group, equities research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 42,237 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the completion of the sale, the chief financial officer owned 421,081 shares of the company’s stock, valued at approximately $20,835,087.88. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the sale, the director directly owned 916,674 shares of the company’s stock, valued at approximately $44,000,352. This trade represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 599,554 shares of company stock worth $29,140,892 in the last three months. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BridgeBio Pharma during the second quarter valued at about $25,000. First Horizon Corp purchased a new stake in BridgeBio Pharma during the third quarter valued at about $36,000. GAMMA Investing LLC grew its position in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares during the period. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the first quarter valued at about $35,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.