BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $102.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective increased by Wells Fargo & Company from $98.00 to $102.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.47% from the company’s previous close.

A number of other research firms have also recently weighed in on BBIO. Citigroup raised their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Piper Sandler boosted their price objective on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley increased their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Truist Financial raised their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Nineteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $98.50.

BridgeBio Pharma Stock Up 0.2%

BridgeBio Pharma stock opened at $84.67 on Tuesday. The business has a 50 day moving average price of $76.07 and a two-hundred day moving average price of $73.03. BridgeBio Pharma has a 12 month low of $46.28 and a 12 month high of $93.42. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of -22.64 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. The company’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) EPS. On average, analysts expect that BridgeBio Pharma will post -2.31 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the transaction, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This represents a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the sale, the chief accounting officer owned 127,401 shares in the company, valued at $10,199,724.06. This trade represents a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 392,117 shares of company stock worth $29,934,700. 14.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma during the third quarter worth $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the 1st quarter valued at about $35,000. Farther Finance Advisors LLC lifted its position in BridgeBio Pharma by 91.4% during the fourth 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. Global Retirement Partners LLC lifted its position in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.