BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $93.00 at Citigroup

BridgeBio Pharma (NASDAQ:BBIO) had its price objective upped by Citigroup from $82.00 to $93.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

BBIO has been the topic of a number of other research reports. Mizuho cut their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Morgan Stanley upped their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. HC Wainwright increased their price target on BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Finally, Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.21.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $80.30 on Thursday. The stock has a 50-day simple moving average of $70.85 and a 200-day simple moving average of $72.25. The stock has a market capitalization of $15.73 billion, a P/E ratio of -21.47 and a beta of 0.95. BridgeBio Pharma has a 1 year low of $42.09 and a 1 year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.88) EPS. Analysts predict that BridgeBio Pharma will post -2.29 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer owned 535,686 shares in the company, valued at $36,137,377.56. This trade represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72. Following the transaction, the director directly owned 9,259 shares in the company, valued at approximately $634,889.63. The trade was a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 432,117 shares of company stock valued at $32,633,740. 14.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in BridgeBio Pharma in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter worth about $35,000. Farther Finance Advisors LLC increased its position in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma in the fourth quarter worth about $41,000. Hedge funds and other 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.