BridgeBio Pharma (NASDAQ:BBIO) Sets New 1-Year High – Still a Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares hit a new 52-week high on Tuesday . The company traded as high as $78.80 and last traded at $77.5750, with a volume of 538724 shares changing hands. The stock had previously closed at $76.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Cantor Fitzgerald boosted their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein started coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.85.

BridgeBio Pharma Stock Down 2.1%

The firm’s 50 day simple moving average is $72.68 and its two-hundred day simple moving average is $58.67. The stock has a market cap of $14.70 billion, a P/E ratio of -18.24 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The firm’s revenue was up 4318.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.86) earnings per share. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the sale, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This represents a 52.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $74.26, for a total value of $148,520.00. Following the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at $9,675,855.22. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 587,215 shares of company stock worth $39,569,101. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio lifted its stake in BridgeBio Pharma by 1.1% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after purchasing an additional 227 shares during the period. Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares in the last quarter. Gabelli Funds LLC increased its stake in BridgeBio Pharma by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after buying an additional 250 shares during the period. Finally, First Bank & Trust lifted its position in BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company’s stock worth $381,000 after buying an additional 329 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.