BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $73.05 Consensus PT from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and twenty have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $73.5789.

Several research firms have recently commented on BBIO. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Raymond James Financial restated an “outperform” rating and set a $71.00 price target (up previously from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They set a “buy” rating and a $70.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, TD Cowen upped their price objective on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 30th.

Insider Activity at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total value 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 $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Mccormick sold 198,359 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total transaction of $13,206,742.22. Following the completion of the sale, the director directly owned 679,979 shares of the company’s stock, valued at $45,273,001.82. The trade was a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 780,746 shares of company stock worth $41,506,451. 18.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at about $84,488,000. Driehaus Capital Management LLC acquired a new stake in BridgeBio Pharma in the 1st quarter valued at about $51,874,000. Invesco Ltd. lifted its holdings in BridgeBio Pharma by 147.0% in the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock valued at $76,267,000 after acquiring an additional 1,313,036 shares during the last quarter. Franklin Resources Inc. lifted its holdings in BridgeBio Pharma by 142.1% in the 2nd quarter. Franklin Resources Inc. now owns 821,405 shares of the company’s stock valued at $35,468,000 after acquiring an additional 482,149 shares during the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in BridgeBio Pharma in the 1st quarter valued at about $15,143,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $61.37 on Friday. The company has a 50-day simple moving average of $54.46 and a 200-day simple moving average of $46.09. The firm has a market capitalization of $11.83 billion, a P/E ratio of -14.68 and a beta of 1.39. BridgeBio Pharma has a one year low of $21.72 and a one year high of $69.48.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $108.11 million for the quarter, compared to analyst estimates of $107.71 million. The business’s revenue was up 4318.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.86) EPS. As a group, sell-side analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current year.

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.