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

Investment analysts at William Blair started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Tuesday. The firm set an “outperform” rating on the stock.

Several other equities analysts have also commented on the stock. Wells Fargo & Company increased their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Barclays started coverage on BridgeBio Pharma in a research note on Wednesday, January 28th. They issued an “overweight” rating for the company. Leerink Partners upped their price target 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. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Finally, Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

BridgeBio Pharma Trading Up 0.4%

Shares of BridgeBio Pharma stock opened at $65.64 on Tuesday. BridgeBio Pharma has a twelve month low of $28.33 and a twelve month high of $84.94. The business’s 50 day simple moving average is $73.44 and its 200-day simple moving average is $65.56. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of -17.37 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same period in the previous year, the business earned ($1.40) EPS. The firm’s revenue was up 2521.2% on a year-over-year basis. Sell-side analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Thomas Trimarchi sold 13,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total value of $1,016,192.00. Following the sale, the chief financial officer directly owned 336,585 shares in the company, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the transaction, the director owned 18,589 shares of the company’s stock, valued at $1,205,868.43. This trade represents a 77.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 227,095 shares of company stock worth $16,099,240. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma during the 3rd quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the 1st quarter worth about $35,000. Finally, First Horizon Corp acquired a new position in shares of BridgeBio Pharma during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.