BridgeBio Pharma (NASDAQ:BBIO) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $96.00 price objective on the stock.

BBIO has been the topic of a number of other research reports. Cantor Fitzgerald upped their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wells Fargo & Company boosted their price objective on BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Cowen reaffirmed a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. UBS Group increased their target price on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Sanford C. Bernstein began coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price target for the company. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.85.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $73.82 on Tuesday. The business has a fifty day simple moving average of $71.16 and a two-hundred day simple moving average of $57.51. BridgeBio Pharma has a 1 year low of $28.10 and a 1 year high of $78.58. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of -17.66 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. BridgeBio Pharma’s revenue was up 4318.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.86) EPS. As a group, equities analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at $9,675,855.22. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Trimarchi sold 16,934 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $66.46, for a total value of $1,125,433.64. Following the sale, the chief financial officer owned 382,830 shares of the company’s stock, valued at approximately $25,442,881.80. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 547,215 shares of company stock valued at $36,610,301 in the last quarter. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC acquired a new position in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $643,000. WINTON GROUP Ltd acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $3,856,000. Moss Adams Wealth Advisors LLC increased its stake in BridgeBio Pharma by 49.2% in the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock valued at $1,044,000 after acquiring an additional 7,970 shares during the last quarter. Baird Financial Group Inc. acquired a new position in BridgeBio Pharma during the first quarter valued at approximately $1,429,000. Finally, Bosun Asset Management LLC raised its position in BridgeBio Pharma by 119.7% during the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after purchasing an additional 14,250 shares in the last quarter. 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.