BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at William Blair

William Blair started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note released on Tuesday. The brokerage issued an outperform rating on the stock.

Several other research firms also recently issued reports on BBIO. Oppenheimer dropped their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Leerink Partners boosted their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Truist Financial raised their target price on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.50.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $65.64 on Tuesday. The stock has a fifty day simple moving average of $73.44 and a two-hundred day simple moving average of $65.56. The firm has a market capitalization of $12.72 billion, a PE ratio of -17.37 and a beta of 1.13. BridgeBio Pharma has a 52-week low of $28.33 and a 52-week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $150.71 million. During the same period in the prior year, the business posted ($1.40) EPS. The business’s revenue for the quarter was up 2521.2% on a year-over-year basis. On average, sell-side analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total value of $2,877,600.00. Following the completion of the sale, the chief executive officer owned 695,686 shares of the company’s stock, valued at approximately $50,047,650.84. The trade was a 5.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $874,505.94. This trade represents a 46.32% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 227,095 shares of company stock worth $16,099,240. 18.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after acquiring an additional 347,074 shares during the period. Janus Henderson Group PLC raised its position in 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 purchasing an additional 2,259,378 shares during the period. Farallon Capital Management LLC boosted its holdings in shares of BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after acquiring an additional 806,463 shares during the period. Aisling Capital Management LP lifted its stake in BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after purchasing an additional 21,486 shares during the last quarter. Finally, Invesco Ltd. raised its position in BridgeBio Pharma by 23.0% in the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.