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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $57.09.

BBIO has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. UBS Group upped their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Scotiabank upped their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th.

Insider Activity

In other news, Director Andrea Ellis sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the transaction, the director now owns 12,000 shares in the company, valued at $408,600. This represents a 71.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the transaction, the insider now owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,392,182 shares of company stock worth $219,161,291 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently modified their holdings of BBIO. Harvey Capital Management Inc. acquired a new position in BridgeBio Pharma in the 4th quarter worth approximately $354,000. Legato Capital Management LLC acquired a new position in BridgeBio Pharma in the 4th quarter worth approximately $210,000. Rhumbline Advisers increased its holdings in BridgeBio Pharma by 2.3% in the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company’s stock worth $6,013,000 after buying an additional 5,007 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in BridgeBio Pharma by 21.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company’s stock worth $2,556,000 after buying an additional 16,545 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in BridgeBio Pharma by 16.6% in the 4th quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company’s stock worth $1,041,000 after buying an additional 5,400 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

Shares of BBIO opened at $38.02 on Thursday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.54. The firm has a fifty day moving average price of $34.37 and a 200-day moving average price of $32.35. The firm has a market capitalization of $7.22 billion, a P/E ratio of -13.34 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. During the same period last year, the company earned ($0.20) earnings per share. The firm’s revenue was down 44.8% compared to the same quarter last year. Analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

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.