BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.57.

A number of equities research analysts recently weighed in on BBIO shares. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Friday, October 25th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Oppenheimer began coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Scotiabank upped their target price on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 in the last three months. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in the stock. Bfsg LLC lifted its position in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Headlands Technologies LLC purchased a new stake in BridgeBio Pharma in the second quarter worth about $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the 3rd quarter valued at approximately $57,000. CWM LLC grew its holdings in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $117,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.6 %

BridgeBio Pharma stock opened at $23.72 on Friday. The business has a 50-day simple moving average of $25.50 and a 200 day simple moving average of $26.41. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of -9.84 and a beta of 1.09.

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.