BridgeBio Pharma (NASDAQ:BBIO) Given New $96.00 Price Target at Mizuho

BridgeBio Pharma (NASDAQ:BBIO) had its target price lowered by investment analysts at Mizuho from $106.00 to $96.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 41.18% from the company’s previous close.

A number of other research analysts have also recently weighed in on BBIO. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Oppenheimer lowered their price target on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Citigroup started coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of BridgeBio Pharma in a research report on Thursday, May 28th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.14.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $68.00 on Tuesday. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of -18.18 and a beta of 0.98. The stock’s 50-day simple moving average is $70.12 and its two-hundred day simple moving average is $72.10. BridgeBio Pharma has a 52-week low of $39.63 and a 52-week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. The business’s revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.88) earnings per share. As a group, equities analysts forecast that BridgeBio Pharma will post -2.32 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the sale, the chief executive officer owned 535,686 shares of the company’s stock, valued at $36,137,377.56. The trade was a 6.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 171,754 shares of company stock valued at $11,914,859 over the last 90 days. 14.23% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. Brooklands Fund Management Ltd bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $210,348,000. Price T Rowe Associates Inc. MD raised its holdings in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after acquiring an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after acquiring an additional 2,259,378 shares in the last quarter. Norges Bank bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $116,802,000. Finally, Wellington Management Group LLP lifted its stake in shares of BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after purchasing an additional 1,329,537 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.