BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at Barclays

Investment analysts at Barclays started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating on the stock.

A number of other equities research analysts have also weighed in on BBIO. Piper Sandler lifted their target price on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Cantor Fitzgerald raised their price objective on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Wells Fargo & Company increased their target price on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $71.00 price target (up from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $79.05.

BridgeBio Pharma Stock Up 0.1%

Shares of BBIO stock opened at $77.87 on Wednesday. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of -18.63 and a beta of 1.17. The stock has a fifty day moving average of $74.68 and a 200 day moving average of $60.76. BridgeBio Pharma has a 52 week low of $28.33 and a 52 week high of $81.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data 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 business had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. During the same quarter in the prior year, the firm posted ($0.86) earnings per share. The company’s revenue for the quarter was up 4318.0% on a year-over-year basis. Equities research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 16,934 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.46, for a total value of $1,125,433.64. Following the sale, the chief financial officer directly owned 382,830 shares of the company’s stock, valued at approximately $25,442,881.80. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.72, for a total value of $3,888,895.32. Following the completion of the transaction, the director directly owned 16,991 shares of the company’s stock, valued at approximately $1,082,666.52. This represents a 78.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 387,215 shares of company stock worth $26,255,694 over the last quarter. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio raised its holdings in BridgeBio Pharma by 1.1% in the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after buying an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after acquiring an additional 228 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in BridgeBio Pharma by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after acquiring an additional 250 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.