BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $48.09 Average PT from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $47.92.

A number of equities analysts have recently commented on BBIO shares. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Bank of America lowered their target price on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. HC Wainwright restated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $30.70 on Tuesday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -9.53 and a beta of 1.07. The firm’s 50-day moving average price is $26.29 and its two-hundred day moving average price is $27.56.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the business posted ($0.98) EPS. The business’s revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts expect that BridgeBio Pharma will post -2.49 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Monday, August 19th. The stock was 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares in the last quarter. Vanguard Group Inc. raised its stake in BridgeBio Pharma by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after buying an additional 1,524,313 shares during the period. Norges Bank bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $46,843,000. Capital Research Global Investors grew its stake in BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the period. Finally, UBS Group AG increased its holdings in shares of BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after acquiring an additional 832,940 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.