BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Up to $28.98

BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $28.98, but opened at $31.32. BridgeBio Pharma shares last traded at $30.11, with a volume of 676,302 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on BBIO. UBS Group lowered their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Raymond James began coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective on the stock. Mizuho lowered their price objective on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Evercore ISI began coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Citigroup upped their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.62.

Check Out Our Latest Stock Report on BridgeBio Pharma

BridgeBio Pharma Stock Up 3.2 %

The company has a market cap of $5.24 billion, a P/E ratio of -8.70 and a beta of 1.08. The company’s 50-day moving average is $27.75 and its two-hundred day moving average is $32.06.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.35. The company had revenue of $211.12 million for the quarter, compared to the consensus estimate of $140.06 million. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $158,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new position in BridgeBio Pharma during the first quarter worth about $34,000. Quarry LP purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth about $50,000. EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma in the first quarter worth about $117,000. Assetmark Inc. lifted its holdings in shares of BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BridgeBio Pharma in the third quarter worth about $132,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

(Get Free Report)

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.

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