BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and thirteen have assigned 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.

A number of research firms have weighed in on BBIO. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 30th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Evercore ISI dropped their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Scotiabank began coverage on shares of BridgeBio Pharma in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $44.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $120,917,867.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. This 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 valued at $150,128,821 over the last 90 days. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in BBIO. Bfsg LLC increased its stake in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the period. Headlands Technologies LLC purchased a new position in BridgeBio Pharma in the 2nd quarter worth about $48,000. CWM LLC increased its stake in BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after buying an additional 1,964 shares during the period. EntryPoint Capital LLC purchased a new position in BridgeBio Pharma in the 1st quarter worth about $117,000. Finally, Amalgamated Bank grew its holdings in BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 0.9 %

Shares of BBIO stock opened at $24.94 on Wednesday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The stock has a market cap of $4.67 billion, a P/E ratio of -7.75 and a beta of 1.08. The company has a 50 day simple moving average of $26.12 and a two-hundred day simple moving average of $26.56.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.98) earnings per share. As a group, equities analysts forecast that BridgeBio Pharma will post -2.56 earnings per share for the current year.

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.