JPMorgan Chase & Co. Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its price target upped by stock analysts at JPMorgan Chase & Co. from $89.00 to $94.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 26.48% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the stock an “outperform” rating in a research note on Thursday, February 12th. HC Wainwright boosted their target price on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Sanford C. Bernstein started coverage on shares of BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price target for the company. Oppenheimer lowered their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Barclays began coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 28th. They issued an “overweight” rating on the stock. Twenty-three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.35.

BridgeBio Pharma Stock Up 13.2%

BBIO stock traded up $8.68 during trading on Tuesday, hitting $74.32. 6,122,535 shares of the company’s stock traded hands, compared to its average volume of 3,220,734. The firm has a market capitalization of $14.41 billion, a P/E ratio of -19.66 and a beta of 1.13. BridgeBio Pharma has a 1 year low of $28.33 and a 1 year high of $84.94. The business has a fifty day simple moving average of $73.44 and a two-hundred day simple moving average of $65.56.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to the consensus estimate of $150.71 million. The firm’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.40) EPS. On average, equities research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Maricel Apuli sold 510 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $74.31, for a total value of $37,898.10. Following the completion of the transaction, the chief accounting officer owned 123,945 shares in the company, valued at $9,210,352.95. This trade represents a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 28,053 shares of BridgeBio Pharma stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.39, for a total value of $2,002,703.67. Following the sale, the chief executive officer directly owned 234,451 shares of the company’s stock, valued at approximately $16,737,456.89. This represents a 10.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 227,095 shares of company stock valued at $16,099,240. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BBIO. Vanguard Group Inc. lifted its holdings in shares of BridgeBio Pharma by 2.1% during the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after purchasing an additional 347,074 shares during the period. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after buying an additional 2,259,378 shares during the last quarter. Farallon Capital Management LLC raised its position in BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after buying an additional 806,463 shares during the last quarter. Aisling Capital Management LP lifted its stake in BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after acquiring an additional 21,486 shares during the period. Finally, Invesco Ltd. lifted its stake in BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock valued at $369,547,000 after acquiring an additional 902,648 shares during the period. 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.