BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $88.00 at Wells Fargo & Company

BridgeBio Pharma (NASDAQ:BBIO) had its price objective hoisted by Wells Fargo & Company from $84.00 to $88.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Leerink Partners raised their price objective on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective on the stock. Finally, TD Cowen lifted their target price on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.05.

BridgeBio Pharma Trading Up 1.2%

Shares of BridgeBio Pharma stock opened at $77.19 on Tuesday. The stock has a 50-day moving average price of $73.45 and a 200 day moving average price of $59.59. The company has a market cap of $14.88 billion, a P/E ratio of -18.47 and a beta of 1.17. BridgeBio Pharma has a 1 year low of $28.33 and a 1 year high of $79.88.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The business’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.86) EPS. On average, equities analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $73.97, for a total transaction of $2,958,800.00. Following the completion of the sale, the chief executive officer owned 735,686 shares in the company, valued at approximately $54,418,693.42. The trade was a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Trimarchi sold 16,934 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $66.46, for a total value of $1,125,433.64. Following the completion of the sale, the chief financial officer owned 382,830 shares of the company’s stock, valued at $25,442,881.80. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 587,215 shares of company stock worth $39,569,101. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of BridgeBio Pharma in the second quarter worth about $84,488,000. Invesco Ltd. grew its position in BridgeBio Pharma by 40.3% in the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after acquiring an additional 987,273 shares in the last quarter. Polar Capital Holdings Plc bought a new position in BridgeBio Pharma in the third quarter valued at approximately $50,956,000. Finally, Wellington Management Group LLP grew its stake in shares of BridgeBio Pharma by 1,698.5% in the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after buying an additional 962,525 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.