BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.82 Average Target Price from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $47.82.

A number of research analysts have commented on BBIO shares. JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Cantor Fitzgerald upped their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of BridgeBio Pharma in a research report on Monday, March 4th. Mizuho decreased their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Finally, Raymond James started coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $27.83 on Wednesday. The firm has a market cap of $5.21 billion, a P/E ratio of -7.06 and a beta of 1.08. The firm’s 50 day moving average price is $28.72 and its 200-day moving average price is $31.73. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. BridgeBio Pharma’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.92) EPS. As a group, research analysts predict that BridgeBio Pharma will post -3.09 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 28.52% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of BridgeBio Pharma by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after acquiring an additional 1,524,313 shares during the last quarter. Wellington Management Group LLP bought a new position in BridgeBio Pharma during the third quarter valued at about $37,434,000. Norges Bank bought a new stake in BridgeBio Pharma during the fourth quarter worth approximately $46,843,000. UBS Group AG grew its holdings in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after purchasing an additional 832,940 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in BridgeBio Pharma during the 3rd quarter worth $20,949,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.