Wells Fargo & Company Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its price target raised by analysts at Wells Fargo & Company from $84.00 to $88.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 14.63% from the stock’s current price.

Several other analysts have also recently weighed in on BBIO. Raymond James Financial reiterated an “outperform” rating and issued a $71.00 price target (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Leerink Partners increased their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, October 8th. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $79.05.

BridgeBio Pharma Price Performance

BBIO traded up $0.51 during trading on Tuesday, hitting $76.77. 529,848 shares of the stock traded hands, compared to its average volume of 3,270,608. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $79.88. The firm has a market capitalization of $14.79 billion, a P/E ratio of -18.38 and a beta of 1.17. The firm has a 50-day moving average of $73.24 and a 200 day moving average of $59.35.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 16,934 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $66.46, for a total value of $1,125,433.64. Following the completion of the sale, the chief financial officer owned 382,830 shares of the company’s stock, valued at approximately $25,442,881.80. The trade was a 4.24% 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 BridgeBio Pharma stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.65, for a total value of $666,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at $772,406.85. The trade was a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 587,215 shares of company stock valued at $39,569,101 over the last ninety days. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma in the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma during the third quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma in the first quarter valued at about $35,000. Finally, First Horizon Corp bought a new position in shares of BridgeBio Pharma in the third quarter worth about $36,000. Institutional investors 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.