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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given an average rating of “Moderate Buy” by the twenty-five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $88.9048.

Several research analysts recently commented on BBIO shares. Citigroup started coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Leerink Partners reissued an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Wells Fargo & Company increased their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, Mizuho reissued an “outperform” rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, April 28th.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $69.12 on Thursday. The company has a market cap of $13.54 billion, a price-to-earnings ratio of -18.48 and a beta of 1.02. The stock has a 50 day simple moving average of $71.32 and a 200-day simple moving average of $71.98. BridgeBio Pharma has a 1-year low of $31.77 and a 1-year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the prior year, the company posted ($0.88) earnings per share. The business’s revenue was up 66.8% compared to the same quarter last year. Analysts anticipate that BridgeBio Pharma will post -2.27 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the transaction, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the completion of the sale, the chief accounting officer owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 210,572 shares of company stock worth $14,364,492 in the last quarter. 14.23% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in BBIO. Brooklands Fund Management Ltd purchased a new stake in BridgeBio Pharma in the 4th quarter valued at $210,348,000. Price T Rowe Associates Inc. MD grew its holdings in BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after buying an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC grew its holdings in BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after buying an additional 2,259,378 shares in the last quarter. Norges Bank purchased a new stake in BridgeBio Pharma in the 4th quarter valued at $116,802,000. Finally, Wellington Management Group LLP grew its holdings in BridgeBio Pharma by 130.4% in the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after buying an additional 1,329,537 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.