BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $86.00

BridgeBio Pharma (NASDAQ:BBIO) had its price target boosted by Truist Financial from $80.00 to $86.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on BBIO. Piper Sandler raised their price target on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Morgan Stanley started coverage on shares of BridgeBio Pharma in a report on Tuesday, January 6th. They set an “overweight” rating and a $96.00 target price on the stock. Cantor Fitzgerald boosted their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. UBS Group upped their price target on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, TD Cowen lifted their price objective on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Twenty-two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.85.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $77.25 on Thursday. The firm’s 50 day simple moving average is $71.45 and its 200-day simple moving average is $57.85. BridgeBio Pharma has a one year low of $28.10 and a one year high of $78.58. The firm has a market cap of $14.89 billion, a PE ratio of -18.48 and a beta of 1.17.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 30,011 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $74.64, for a total value of $2,240,021.04. Following the completion of the sale, the chief executive officer directly owned 228,776 shares in the company, valued at $17,075,840.64. This trade represents a 11.60% decrease in their ownership of the stock. 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 BridgeBio Pharma stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the completion of the transaction, the chief financial officer directly owned 382,830 shares in the company, valued at $25,442,881.80. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 547,215 shares of company stock valued at $36,610,301 over the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BBIO. Strs Ohio boosted its holdings in BridgeBio Pharma by 1.1% in the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its stake in BridgeBio Pharma by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after purchasing an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 22.3% in the 2nd 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. Gabelli Funds LLC grew its position in BridgeBio Pharma by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock worth $3,185,000 after purchasing an additional 250 shares during the last quarter. Finally, First Bank & Trust increased its stake in BridgeBio Pharma by 3.9% during the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company’s stock valued at $381,000 after purchasing an additional 329 shares in the last quarter. 99.85% of the stock is 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.