BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $102.61.

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Piper Sandler boosted their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Bank of America upped their price objective on BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Mizuho lifted their target price on BridgeBio Pharma from $96.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of BridgeBio Pharma in a research note on Thursday, September 10th.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Jennifer Cook sold 148,589 shares of the 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 sale, the director directly owned 8,383 shares in the company, valued at $742,230.82. This trade represents a 94.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $69.08, for a total transaction of $690,800.00. Following the completion of the sale, the chief executive officer owned 495,686 shares in the company, valued at approximately $34,241,988.88. This trade represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 222,736 shares of company stock worth $19,176,217. 14.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of BridgeBio Pharma in the second quarter valued at about $1,050,762,000. Brooklands Fund Management Ltd bought a new position in BridgeBio Pharma during the fourth quarter worth about $210,348,000. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $145,663,000. Finally, Norges Bank bought a new stake in BridgeBio Pharma in the 4th quarter valued at about $116,802,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Down 1.0%

NASDAQ:BBIO opened at $65.97 on Wednesday. BridgeBio Pharma has a 12-month low of $50.80 and a 12-month high of $93.42. The firm has a market capitalization of $12.90 billion, a PE ratio of -18.48 and a beta of 0.97. The firm has a 50-day moving average price of $77.13 and a 200 day moving average price of $73.71.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. During the same period in the previous year, the firm posted ($0.95) earnings per share. The company’s quarterly revenue was up 120.4% compared to the same quarter last year. On average, research analysts expect that BridgeBio Pharma will post -2.65 EPS for the current year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company uses its drug discovery and development platform to advance therapies across areas including rare diseases, genetic disorders and precision oncology, with programs designed to address the underlying biological causes of disease.

BridgeBio operates through a collection of subsidiary companies and development programs. Its portfolio has included therapies for cardiovascular, endocrine, neurological and oncological conditions.