BridgeBio Pharma (NASDAQ:BBIO) Sets New 1-Year High – Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price reached a new 52-week high on Thursday . The stock traded as high as $86.50 and last traded at $87.3180, with a volume of 628774 shares. The stock had previously closed at $78.33.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Citigroup started coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target for the company. Royal Bank Of Canada assumed coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, Truist Financial increased their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $92.90.

BridgeBio Pharma Trading Up 14.4%

The stock has a market cap of $17.56 billion, a P/E ratio of -23.73 and a beta of 0.95. The firm has a 50-day simple moving average of $69.05 and a two-hundred day simple moving average of $71.93.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. The business’s quarterly revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.88) earnings per share. Sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares of the company’s stock, valued at $23,376,345.52. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 37,167 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $2,601,690.00. Following the completion of the sale, the director directly owned 8,383 shares of the company’s stock, valued at $586,810. This represents a 81.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 266,361 shares of company stock worth $18,035,642. 14.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in BBIO. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma during the 3rd quarter worth $34,000. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the 1st quarter worth $35,000. Farther Finance Advisors LLC increased its position in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the period. Global Retirement Partners LLC increased its position in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in BridgeBio Pharma in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.