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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned an average rating of “Moderate Buy” from the twenty-three research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and twenty-two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $79.05.

A number of research firms recently weighed in on BBIO. Piper Sandler raised their price objective on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Truist Financial raised their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Evercore reiterated an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Barclays assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 28th. They set an “overweight” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 target price for the company.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.65, for a total value of $666,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at $772,406.85. The trade was a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the transaction, the director directly owned 50,583 shares in the company, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 286,184 shares of company stock worth $19,840,799 over the last 90 days. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently bought and sold shares of BBIO. Geode Capital Management LLC lifted its stake in BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after acquiring an additional 502,582 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after acquiring an additional 508 shares during the period. Fisher Asset Management LLC purchased a new position in shares of BridgeBio Pharma during the fourth quarter valued at approximately $17,776,000. Swedbank AB bought a new position in BridgeBio Pharma during the fourth quarter valued at approximately $2,111,000. Finally, Coldstream Capital Management Inc. bought a new position in BridgeBio Pharma during the fourth quarter valued at approximately $243,000. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $72.29 on Tuesday. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $81.32. The firm’s 50-day simple moving average is $75.54 and its two-hundred day simple moving average is $62.53. The stock has a market cap of $13.93 billion, a PE ratio of -17.29 and a beta of 1.13.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.