BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Has Average Price Target of $102.61

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $102.61.

A number of equities analysts have issued reports on BBIO shares. Weiss Ratings upgraded BridgeBio Pharma from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, September 10th. Citigroup boosted their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. TD Cowen upped their target price on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of BridgeBio Pharma in a research report on Thursday, September 10th. Finally, Canaccord Genuity Group increased their price target on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th.

BridgeBio Pharma Stock Performance

BBIO stock opened at $65.57 on Wednesday. BridgeBio Pharma has a fifty-two week low of $48.88 and a fifty-two week high of $93.42. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of -18.37 and a beta of 0.97. The business’s 50 day moving average price is $77.74 and its two-hundred day moving average price is $73.75.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. During the same period in the previous year, the firm posted ($0.95) EPS. The firm’s revenue for the quarter was up 120.4% compared to the same quarter last year. Sell-side analysts forecast that BridgeBio Pharma will post -2.65 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the transaction, the chief accounting officer owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. This trade represents a 1.55% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $69.08, for a total transaction of $690,800.00. Following the transaction, the chief executive officer owned 495,686 shares of the company’s stock, valued at $34,241,988.88. The trade was a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 222,736 shares of company stock worth $19,176,217. Insiders own 14.23% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jupiter Topco LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $1,050,762,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after purchasing an additional 2,178,556 shares during the last quarter. Geode Capital Management LLC increased its stake in BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after purchasing an additional 502,582 shares in the last quarter. Brooklands Fund Management Ltd bought a new stake in BridgeBio Pharma during the 4th quarter valued at about $210,348,000. Finally, Franklin Resources Inc. increased its stake in BridgeBio Pharma by 49.9% during the 4th quarter. Franklin Resources Inc. now owns 2,164,928 shares of the company’s stock valued at $165,595,000 after purchasing an additional 720,905 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.