BridgeBio Pharma (NASDAQ:BBIO) Stock Bumped Up to “Strong-Buy” by UBS Group

UBS Group upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) to a strong-buy rating in a research report report published on Wednesday morning,Zacks reports.

Several other equities analysts have also issued reports on BBIO. HC Wainwright reaffirmed a “buy” rating on shares of BridgeBio Pharma in a report on Tuesday, October 6th. Truist Financial boosted their target price on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Bank of America boosted their target price on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, October 5th. Finally, Weiss Ratings downgraded BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $104.75.

BridgeBio Pharma Trading Down 1.1%

Shares of NASDAQ BBIO traded down $0.74 during mid-day trading on Wednesday, reaching $66.39. The company had a trading volume of 2,055,510 shares, compared to its average volume of 2,982,958. The firm has a 50 day simple moving average of $72.75 and a two-hundred day simple moving average of $73.32. BridgeBio Pharma has a 52-week low of $52.75 and a 52-week high of $93.42. The stock has a market cap of $12.98 billion, a P/E ratio of -18.60 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results 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 company had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. During the same period in the previous year, the business posted ($0.95) earnings per share. BridgeBio Pharma’s revenue was up 120.4% compared to the same quarter last year. On average, equities analysts expect that BridgeBio Pharma will post -2.63 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 34,980 shares of BridgeBio Pharma stock in a transaction 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 transaction, the chief executive officer directly owned 243,327 shares in the company, valued at approximately $20,081,777.31. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,980 shares of company stock worth $4,578,119 over the last three months. 14.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in BridgeBio Pharma during the 2nd quarter valued at approximately $1,050,762,000. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after acquiring an additional 2,178,556 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $145,663,000. Pictet Asset Management Holding SA grew its stake in shares of BridgeBio Pharma by 8.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,184 shares of the company’s stock valued at $101,495,000 after purchasing an additional 110,894 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of BridgeBio Pharma by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock valued at $98,797,000 after purchasing an additional 16,112 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

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.