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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $52.20.

A number of research firms recently commented on BBIO. Evercore ISI increased 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 increased 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, February 21st. Bank of America upped their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Citigroup lifted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st.

BridgeBio Pharma Trading Up 2.5 %

NASDAQ:BBIO opened at $34.77 on Friday. The company has a market capitalization of $6.61 billion, a P/E ratio of -12.20 and a beta of 1.07. The firm has a 50-day moving average price of $34.08 and a two-hundred day moving average price of $29.08. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its 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 company had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. On average, equities research analysts predict that BridgeBio Pharma will post -3.67 earnings per share 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 company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,579,739 shares of company stock worth $323,171,901 over the last 90 days. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of BBIO. Swiss National Bank increased its stake in BridgeBio Pharma by 1.1% during the third quarter. Swiss National Bank now owns 219,300 shares of the company’s stock valued at $5,583,000 after purchasing an additional 2,400 shares during the last quarter. Quest Partners LLC raised its stake in BridgeBio Pharma by 134.0% during the third quarter. Quest Partners LLC now owns 31,173 shares of the company’s stock worth $794,000 after acquiring an additional 17,849 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in BridgeBio Pharma during the third quarter worth about $932,000. Jennison Associates LLC bought a new position in BridgeBio Pharma in the third quarter worth about $767,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in BridgeBio Pharma in the third quarter valued at approximately $309,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.