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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received an average rating of “Moderate Buy” from the twenty-two research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $79.05.

BBIO has been the topic of several research analyst reports. Leerink Partners raised their price target on BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group raised their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Wells Fargo & Company upped their price target on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th.

BridgeBio Pharma Stock Up 2.3%

NASDAQ:BBIO opened at $79.91 on Friday. The company’s 50 day moving average is $73.99 and its 200-day moving average is $59.86. BridgeBio Pharma has a 12 month low of $28.33 and a 12 month high of $81.32. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of -19.12 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The company’s revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.86) EPS. Research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.15, for a total transaction of $2,526,000.00. Following the transaction, the chief executive officer directly owned 815,686 shares in the company, valued at $51,510,570.90. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew Lo sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the sale, the director owned 50,583 shares of the company’s stock, valued at $3,322,797.27. This represents a 52.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 587,215 shares of company stock worth $39,569,101. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at $643,000. WINTON GROUP Ltd acquired a new position in BridgeBio Pharma in the second quarter valued at about $3,856,000. Moss Adams Wealth Advisors LLC grew its stake in BridgeBio Pharma by 49.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock worth $1,044,000 after buying an additional 7,970 shares during the last quarter. Bosun Asset Management LLC grew its stake in BridgeBio Pharma by 119.7% during the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock worth $1,129,000 after buying an additional 14,250 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of BridgeBio Pharma in the second quarter valued at approximately $598,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.