BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $95.00 at TD Cowen

BridgeBio Pharma (NASDAQ:BBIO) had its price target raised by TD Cowen from $60.00 to $95.00 in a research report report published on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

BBIO has been the subject of several other reports. Raymond James Financial reissued an “outperform” rating and issued a $71.00 target price (up from $69.00) on shares of BridgeBio Pharma in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Cowen restated a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday. Piper Sandler lifted their target price on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their target price 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. Twenty research 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.05.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $63.37 on Thursday. The stock has a 50-day simple moving average of $53.64 and a two-hundred day simple moving average of $45.34. BridgeBio Pharma has a 52-week low of $21.72 and a 52-week high of $69.48. The firm has a market capitalization of $12.11 billion, a PE ratio of -15.16 and a beta of 1.36.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 firm had revenue of $108.11 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same quarter in the prior year, the business earned ($0.86) earnings per share. The firm’s revenue for the quarter was up 4318.0% on a year-over-year basis. Equities analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank Mccormick sold 74,000 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the completion of the transaction, the director directly owned 83,275 shares of the company’s stock, valued at approximately $4,426,899. This trade represents a 47.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the sale, the chief executive officer owned 855,686 shares in the company, valued at approximately $46,874,479.08. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 599,554 shares of company stock valued at $29,140,892 in the last quarter. Company insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in BBIO. Strs Ohio grew its holdings in BridgeBio Pharma by 1.1% during the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BridgeBio Pharma by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after acquiring an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after acquiring an additional 228 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of BridgeBio Pharma by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after acquiring an additional 250 shares during the last quarter. Finally, First Bank & Trust grew its holdings in shares of BridgeBio Pharma by 3.9% in the second 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 currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

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.