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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.67.

Several research analysts have commented on BBIO shares. Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Evercore ISI lifted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $33.01 on Tuesday. The firm’s 50 day simple moving average is $32.79 and its 200 day simple moving average is $28.40. The company has a market capitalization of $6.28 billion, a P/E ratio of -11.58 and a beta of 1.07. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total value of $282,115.00. Following the sale, the chief financial officer now owns 102,464 shares of the company’s stock, valued at approximately $3,400,780.16. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,579,739 shares of company stock valued at $125,411,901. 24.66% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently made changes to their positions in BBIO. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $1,286,000. First Turn Management LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $10,178,000. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares during the period. Intech Investment Management LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $1,136,000. Finally, Principal Financial Group Inc. grew its stake in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after acquiring an additional 19,978 shares during the period. 99.85% of the stock is currently owned by institutional investors.

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.