BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.50 Consensus PT from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.50.

Several research analysts have recently commented on BBIO shares. JPMorgan Chase & Co. lowered their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank started coverage on BridgeBio Pharma in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $44.00 price target for the company. Bank of America restated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, Oppenheimer started coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock worth $150,128,821 over the last ninety days. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in BBIO. Price T Rowe Associates Inc. MD grew its holdings in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after buying an additional 145,594 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares during the last quarter. Comerica Bank grew its holdings in shares of BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after buying an additional 37,277 shares during the last quarter. Swiss National Bank grew its holdings in shares of BridgeBio Pharma by 17.0% during the first quarter. Swiss National Bank now owns 206,000 shares of the company’s stock worth $6,370,000 after buying an additional 29,900 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $23.84 on Wednesday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -7.40 and a beta of 1.08. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The stock has a 50 day moving average of $26.11 and a 200 day moving average of $26.53.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.98) earnings per share. Analysts forecast that BridgeBio Pharma will post -2.56 EPS for the current year.

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.