BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $78.83 Average Price Target from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $78.50.

A number of equities analysts recently issued reports on BBIO shares. Bank of America raised BridgeBio Pharma from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, September 10th. HC Wainwright restated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, October 25th. Zacks Investment Research upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Wednesday, November 10th. Mizuho restated a “buy” rating on shares of BridgeBio Pharma in a research report on Wednesday, November 3rd. Finally, SVB Leerink reduced their price objective on shares of BridgeBio Pharma from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, November 19th.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its position in shares of BridgeBio Pharma by 20.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,007 shares of the company’s stock valued at $122,000 after acquiring an additional 341 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of BridgeBio Pharma by 0.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 42,084 shares of the company’s stock valued at $1,972,000 after acquiring an additional 380 shares during the period. Grace Capital lifted its position in shares of BridgeBio Pharma by 0.6% during the 2nd quarter. Grace Capital now owns 77,350 shares of the company’s stock valued at $4,715,000 after acquiring an additional 450 shares during the period. WCM Investment Management LLC lifted its position in shares of BridgeBio Pharma by 0.7% during the 3rd quarter. WCM Investment Management LLC now owns 65,504 shares of the company’s stock valued at $3,070,000 after acquiring an additional 482 shares during the period. Finally, Phocas Financial Corp. lifted its position in shares of BridgeBio Pharma by 1.0% during the 3rd quarter. Phocas Financial Corp. now owns 56,592 shares of the company’s stock valued at $2,652,000 after acquiring an additional 584 shares during the period. Institutional investors own 95.06% of the company’s stock.

Shares of NASDAQ BBIO traded down $0.20 during midday trading on Thursday, reaching $40.74. 884,902 shares of the company were exchanged, compared to its average volume of 878,665. BridgeBio Pharma has a 1 year low of $39.33 and a 1 year high of $73.50. The stock has a fifty day simple moving average of $47.90 and a 200 day simple moving average of $53.28. The stock has a market cap of $6.00 billion, a P/E ratio of -10.42 and a beta of 0.77.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, November 4th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.15). BridgeBio Pharma had a negative return on equity of 805.16% and a negative net margin of 939.99%. The company had revenue of $2.34 million for the quarter, compared to analysts’ expectations of $16.12 million. BridgeBio Pharma’s quarterly revenue was down 71.2% compared to the same quarter last year. As a group, equities research analysts predict that BridgeBio Pharma will post -3.68 earnings per share for the current year.

About BridgeBio Pharma

BridgeBio Pharma, Inc engages in identifying and advancing transformative medicines to treat patients who suffer from Mendelian diseases. Its pipeline of development programs includes product candidates ranging from early discovery to late-stage development. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly, and Neil Kumar in 2015 and is headquartered in Palo Alto, CA.

Further Reading: QQQ ETF

Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

Receive News & Ratings for BridgeBio Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BridgeBio Pharma and related companies with MarketBeat.com's FREE daily email newsletter.