BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $45.62 Average Price Target from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $47.17.

Several analysts recently issued reports on BBIO shares. Mizuho cut their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Raymond James started coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They set an “outperform” rating and a $45.00 target price for the company. Cantor Fitzgerald boosted their target price on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th.

Check Out Our Latest Research Report on BBIO

BridgeBio Pharma Stock Down 5.4 %

BBIO opened at $26.83 on Friday. The firm has a 50 day moving average price of $31.39 and a 200-day moving average price of $31.77. BridgeBio Pharma has a twelve month low of $12.75 and a twelve month high of $44.32. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $4.78 million. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) earnings per share. As a group, analysts expect that BridgeBio Pharma will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $221,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Randal W. Scott sold 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $221,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hannah Valantine sold 2,915 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total transaction of $110,682.55. Following the transaction, the director now owns 1,764 shares of the company’s stock, valued at approximately $66,979.08. The disclosure for this sale can be found here. 28.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of BBIO. Vanguard Group Inc. raised its stake in BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares in the last quarter. Wellington Management Group LLP purchased a new stake in BridgeBio Pharma during the third quarter valued at $37,434,000. Norges Bank purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $46,843,000. UBS Group AG raised its stake in 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 purchasing an additional 832,940 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in BridgeBio Pharma during the third quarter valued at $20,949,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

(Get Free Report

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.

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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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