Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $89.59

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received an average recommendation of “Moderate Buy” from the twenty-five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $91.0476.

Several equities analysts have recently issued reports on BBIO shares. Citigroup started coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target for the company. Morgan Stanley boosted their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Leerink Partners reissued an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a report on Thursday, March 12th. Mizuho decreased their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target for the company.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $66.27 on Monday. BridgeBio Pharma has a 12-month low of $40.19 and a 12-month high of $84.94. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of -17.72 and a beta of 0.97. The firm has a fifty day moving average of $69.62 and a 200-day moving average of $71.96.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly 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 firm had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the business earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. Research analysts expect that BridgeBio Pharma will post -2.29 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the completion of the transaction, the chief accounting officer directly owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. This represents a 1.47% decrease in their position. 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 40,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the completion of the transaction, the chief executive officer directly owned 575,686 shares of the company’s stock, valued at approximately $39,089,079.40. The trade was a 6.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 261,994 shares of company stock worth $17,926,648. Company insiders own 14.23% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma in the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd acquired a new position in BridgeBio Pharma in the 3rd quarter worth $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the 1st quarter worth $35,000. Huntington National Bank boosted its stake in BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

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.