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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.67.

A number of research firms have issued reports on BBIO. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Finally, Scotiabank upped their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday.

Insider Buying and Selling at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,496,239 shares of company stock valued at $122,612,036. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the fourth quarter worth approximately $41,000. Sterling Capital Management LLC lifted its stake in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after acquiring an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma in the fourth quarter worth approximately $109,000. Finally, Advisors Asset Management Inc. increased its stake in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Down 1.6 %

Shares of NASDAQ BBIO opened at $36.25 on Tuesday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.47. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -12.72 and a beta of 1.07. The stock’s 50 day simple moving average is $32.07 and its 200 day simple moving average is $28.06.

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 business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts forecast that BridgeBio Pharma will post -3.66 earnings per share for the current fiscal 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.