BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.62.

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. UBS Group lowered their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Evercore ISI started coverage on BridgeBio Pharma in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, June 5th.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $27.61 on Thursday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -8.57 and a beta of 1.08. BridgeBio Pharma has a 52-week low of $14.78 and a 52-week high of $44.32. The stock has a fifty day moving average of $27.50 and a 200 day moving average of $31.95.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to analysts’ expectations of $140.06 million. Equities analysts forecast that BridgeBio Pharma will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the sale, the director now directly owns 5,500 shares in the company, valued at $158,620. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Diversified Trust Co lifted its position in BridgeBio Pharma by 2.5% during the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock worth $451,000 after acquiring an additional 411 shares during the period. American International Group Inc. boosted its holdings in BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after buying an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC boosted its holdings in shares of BridgeBio Pharma by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after purchasing an additional 734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in BridgeBio Pharma by 1.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,773 shares of the company’s stock valued at $2,655,000 after acquiring an additional 904 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after acquiring an additional 935 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.