BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $47.92.

Several equities analysts have recently weighed in on BBIO shares. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Bank of America reissued a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th.

BridgeBio Pharma Trading Up 1.9 %

Shares of BBIO stock opened at $24.94 on Friday. The stock has a 50-day moving average of $26.27 and a 200-day moving average of $27.06. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -7.75 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.98) EPS. Sell-side analysts forecast that BridgeBio Pharma will post -2.54 earnings per share for the current year.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,831,544 shares of company stock valued at $150,128,821. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BBIO. Assetmark Inc. grew its holdings in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after acquiring an additional 935 shares during the period. Commerce Bank purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $244,000. TD Asset Management Inc purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $1,174,000. Eagle Asset Management Inc. purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $8,845,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of BridgeBio Pharma by 50.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 23,071 shares of the company’s stock worth $931,000 after acquiring an additional 7,775 shares during the period. Hedge funds and other 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.