BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Citigroup Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by equities research analysts at Citigroup from $45.00 to $49.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 32.97% from the company’s previous close.

Several other equities research analysts have also issued reports on BBIO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Bank of America raised 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. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $36.85 on Friday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The business has a 50 day simple moving average of $31.90 and a 200-day simple moving average of $27.95.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, analysts expect that BridgeBio Pharma will post -3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares in the company, valued at $7,651,488.52. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock worth $122,612,036 in the last ninety days. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BBIO. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after purchasing an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.