BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $88.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective boosted by Wells Fargo & Company from $84.00 to $88.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Leerink Partners upped their price objective on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Twenty-one research analysts have rated the stock with a Buy 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 target price of $79.05.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $79.91 on Tuesday. The firm has a market capitalization of $15.40 billion, a P/E ratio of -19.12 and a beta of 1.17. The stock has a 50 day moving average price of $73.99 and a 200-day moving average price of $59.86. 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 results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. The firm’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.86) earnings per share. On average, equities analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $51,510,570.90. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction on 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 sale, the director directly owned 16,991 shares of the company’s stock, valued at $1,082,666.52. The trade was a 78.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 587,215 shares of company stock worth $39,569,101. 18.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the third quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma in the third quarter worth approximately $34,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth $35,000. Finally, First Horizon Corp bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at $36,000. 99.85% of the stock is owned by hedge funds and other 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.