BridgeBio Pharma (NASDAQ:BBIO) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) to a moderate buy rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on BBIO. Truist Financial lifted their target price on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Morgan Stanley lifted their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. William Blair assumed coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Twenty-four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

BridgeBio Pharma Stock Down 1.2%

NASDAQ:BBIO opened at $74.59 on Wednesday. The stock’s fifty day simple moving average is $70.92 and its 200-day simple moving average is $68.71. The firm has a market capitalization of $14.46 billion, a P/E ratio of -19.73 and a beta of 1.09. BridgeBio Pharma has a 12-month low of $31.77 and a 12-month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to analysts’ expectations of $150.71 million. The company’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.40) EPS. As a group, equities research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Andrea Ellis sold 64,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the sale, the director directly owned 18,589 shares in the company, valued at approximately $1,205,868.43. The trade was a 77.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas Trimarchi sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the transaction, the chief financial officer owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. This represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 197,084 shares of company stock valued at $13,649,619 in the last quarter. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of BBIO. Aster Capital Management DIFC Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. First Horizon Corp bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $36,000. Finally, Huntington National Bank lifted its position in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after buying an additional 392 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.