Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $95.21

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $97.3333.

A number of equities research analysts recently commented on BBIO shares. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Morgan Stanley upped their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Mizuho lowered their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Citigroup increased their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $82.80 on Tuesday. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of -22.14 and a beta of 0.96. The business has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $72.92. BridgeBio Pharma has a 52-week low of $44.10 and a 52-week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The business’s quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.88) earnings per share. On average, analysts predict that BridgeBio Pharma will post -2.31 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer owned 535,686 shares of the company’s stock, valued at approximately $36,137,377.56. This trade represents a 6.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at $742,230.82. The trade was a 94.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 392,117 shares of company stock valued at $29,934,700 in the last 90 days. 14.23% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the first quarter worth $35,000. First Trust Advisors LP increased its stake in BridgeBio Pharma by 200.4% in the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after buying an additional 175,918 shares during the last quarter. Baird Financial Group Inc. lifted its position in BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after buying an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in BridgeBio Pharma during the 2nd quarter worth about $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BridgeBio Pharma by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after buying an additional 2,206 shares during the last quarter. 99.85% of the stock is currently 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.