BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Has Average Price Target of $104.75 According to Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $104.90.

A number of equities analysts recently commented on the company. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Wells Fargo & Company raised their price target on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Bank of America raised their price target on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Morgan Stanley dropped their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, October 5th.

BridgeBio Pharma Trading Down 0.6%

BBIO stock opened at $67.55 on Friday. The firm has a 50-day moving average of $72.09 and a two-hundred day moving average of $73.25. BridgeBio Pharma has a 12 month low of $52.75 and a 12 month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share 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. The company’s quarterly revenue was up 120.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.95) earnings per share. Sell-side analysts forecast that BridgeBio Pharma will post -2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the sale, the chief accounting officer owned 127,401 shares in the company, valued at $10,199,724.06. This represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 34,980 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the transaction, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at $20,081,777.31. The trade was a 12.57% 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. Insiders sold a total of 56,980 shares of company stock worth $4,578,119 over the last ninety days. Corporate insiders own 14.23% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Silvant Capital Management LLC bought a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $28,000. Allworth Financial LP acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BridgeBio Pharma in the second quarter valued at $44,000. Integrated Wealth Concepts LLC bought a new stake in BridgeBio Pharma in the second quarter valued at $52,000. Finally, Parallel Advisors LLC grew its position in BridgeBio Pharma by 552.6% in the first quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock valued at $66,000 after acquiring an additional 757 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 biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.