BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $106.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price boosted by Mizuho from $91.00 to $106.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

BBIO has been the topic of several other reports. Oppenheimer cut their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley lifted their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. William Blair started coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating for the company. HC Wainwright raised their price target on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Twenty-four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $68.54 on Wednesday. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of -18.13 and a beta of 1.13. BridgeBio Pharma has a 52 week low of $28.33 and a 52 week high of $84.94. The business’s fifty day moving average price is $72.53 and its two-hundred day moving average price is $66.62.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. The firm’s revenue was up 2521.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.40) EPS. As a group, research analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 510 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total transaction of $37,898.10. Following the transaction, the chief accounting officer directly owned 123,945 shares of the company’s stock, valued at approximately $9,210,352.95. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the business’s 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 sale, the director owned 11,589 shares of the company’s stock, valued at approximately $874,505.94. The trade was a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 237,084 shares of company stock worth $16,608,419 over the last ninety days. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new stake in BridgeBio Pharma during the fourth quarter valued at about $1,050,000. Rockefeller Capital Management L.P. grew its stake in shares of BridgeBio Pharma by 189.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,429 shares of the company’s stock valued at $2,939,000 after buying an additional 25,169 shares during the last quarter. Invesco Ltd. increased its holdings in shares of 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 buying an additional 902,648 shares during the period. Mackenzie Financial Corp lifted its stake in shares of BridgeBio Pharma by 8.9% in the 4th quarter. Mackenzie Financial Corp now owns 54,495 shares of the company’s stock valued at $4,105,000 after acquiring an additional 4,448 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of BridgeBio Pharma by 162.4% in the 4th quarter. XTX Topco Ltd now owns 13,169 shares of the company’s stock valued at $1,007,000 after acquiring an additional 8,150 shares during the last quarter. 99.85% of the stock is 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.