BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $57.09.

Several equities analysts have recently commented on BBIO shares. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They set a “buy” rating and a $50.00 price target on the stock. Scotiabank boosted their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 30th. UBS Group lifted their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Finally, HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th.

Insiders Place Their Bets

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,026 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the transaction, the chief accounting officer now owns 147,639 shares of the company’s stock, valued at $5,685,577.89. The trade was a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,410,217 shares of company stock valued at $417,634,332 in the last quarter. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BBIO. Farallon Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the period. Driehaus Capital Management LLC bought a new position in shares of BridgeBio Pharma during the 1st quarter worth about $51,874,000. Invesco Ltd. increased its holdings in shares of BridgeBio Pharma by 147.0% during the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock worth $76,267,000 after purchasing an additional 1,313,036 shares during the period. Woodline Partners LP increased its holdings in shares of BridgeBio Pharma by 132.9% during the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company’s stock worth $60,684,000 after purchasing an additional 1,261,772 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of BridgeBio Pharma by 4,544.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company’s stock worth $38,751,000 after purchasing an additional 1,096,799 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 0.2%

BridgeBio Pharma stock opened at $33.74 on Friday. The company’s fifty day simple moving average is $34.40 and its 200-day simple moving average is $31.47. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.54. The stock has a market cap of $6.41 billion, a P/E ratio of -11.84 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analysts’ expectations of $57.14 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. The company’s revenue was down 44.8% on a year-over-year basis. On average, equities research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

About BridgeBio Pharma

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.