BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and twenty have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $74.3684.

A number of equities research analysts have recently weighed in on the stock. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and set a $80.00 price target (up previously from $66.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Wall Street Zen raised shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Leerink Partners set a $68.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research note on Monday, October 27th.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $71.72 on Thursday. The firm has a 50-day moving average of $58.99 and a 200-day moving average of $49.37. BridgeBio Pharma has a 52-week low of $25.34 and a 52-week high of $72.26. The stock has a market cap of $13.82 billion, a PE ratio of -17.16 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The firm’s quarterly revenue was up 4318.0% on a year-over-year basis. During the same period last year, the business earned ($0.86) EPS. Equities research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, Director Frank Mccormick sold 198,359 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total value of $13,206,742.22. Following the sale, the director directly owned 679,979 shares in the company, valued at $45,273,001.82. This represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.72, for a total value of $3,888,895.32. Following the completion of the transaction, the director directly owned 16,991 shares of the company’s stock, valued at approximately $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 629,204 shares of company stock worth $39,424,400 in the last three months. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in BBIO. CIBC Private Wealth Group LLC boosted its stake in shares of BridgeBio Pharma by 384.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,759 shares of the company’s stock worth $403,000 after buying an additional 6,156 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at $866,000. Danske Bank A S bought a new position in shares of BridgeBio Pharma in the 3rd quarter worth $104,000. Castleark Management LLC raised its stake in shares of BridgeBio Pharma by 58.9% during the third quarter. Castleark Management LLC now owns 123,707 shares of the company’s stock worth $6,425,000 after acquiring an additional 45,867 shares in the last quarter. Finally, Zimmer Partners LP increased its stake in BridgeBio Pharma by 2.4% in the 3rd quarter. Zimmer Partners LP now owns 184,400 shares of the company’s stock worth $9,578,000 after purchasing an additional 4,300 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

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.