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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.20.

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank upped their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Finally, Bank of America lifted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th.

BridgeBio Pharma Stock Up 2.5 %

Shares of NASDAQ:BBIO opened at $34.77 on Friday. The company’s 50-day moving average price is $34.08 and its 200 day moving average price is $29.08. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The company has a market cap of $6.61 billion, a PE ratio of -12.20 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Activity

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock worth $323,171,901 in the last three months. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma in the third quarter worth about $1,286,000. Janus Henderson Group PLC lifted its holdings in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares during the period. Intech Investment Management LLC bought a new position in BridgeBio Pharma in the third quarter valued at approximately $1,136,000. Principal Financial Group Inc. grew its holdings in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after acquiring an additional 19,978 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $767,000. 99.85% of the stock is owned by institutional investors.

About BridgeBio Pharma

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.