BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, UBS Group Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its price target upped by research analysts at UBS Group from $65.00 to $72.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 87.50% from the company’s current price.

A number of other brokerages have also weighed in on BBIO. HC Wainwright raised their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 price target on the stock. Scotiabank lifted their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.09.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $38.40 on Wednesday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $39.54. The stock has a market capitalization of $7.29 billion, a PE ratio of -13.47 and a beta of 1.08. The stock’s fifty day moving average is $33.97 and its 200-day moving average is $30.75.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The firm’s revenue was down 44.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) EPS. As a group, analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now directly owns 102,464 shares in the company, valued at approximately $3,705,098.24. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,309,191 shares of company stock worth $208,544,821 in the last 90 days. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after acquiring an additional 19,978 shares in the last quarter. Capital Research Global Investors grew its stake in BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. Teacher Retirement System of Texas grew its stake in BridgeBio Pharma by 28.6% in the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock valued at $994,000 after purchasing an additional 8,048 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of BridgeBio Pharma by 2.8% during the 4th quarter. Legal & General Group Plc now owns 134,038 shares of the company’s stock worth $3,678,000 after purchasing an additional 3,706 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.