BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at Barclays

Barclays began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial reiterated an “outperform” rating and set a $71.00 target price (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Leerink Partners increased their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Truist Financial upped their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Twenty-two equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $79.05.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $77.49 on Wednesday. BridgeBio Pharma has a one year low of $28.33 and a one year high of $81.32. The firm has a market cap of $14.93 billion, a P/E ratio of -18.54 and a beta of 1.17. The stock’s 50-day moving average is $74.92 and its 200-day moving average is $60.88.

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

Insider Buying and Selling

In related news, CFO Thomas Trimarchi sold 16,934 shares of the firm’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 directly owned 382,830 shares in the company, valued at approximately $25,442,881.80. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the transaction, the chief accounting officer directly owned 130,297 shares in the company, valued at approximately $9,675,855.22. This trade represents a 1.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 387,215 shares of company stock worth $26,255,694 in the last 90 days. 18.20% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma during the third quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $35,000. Finally, First Horizon Corp bought a new stake in BridgeBio Pharma in the 3rd quarter valued at $36,000. Institutional investors and hedge funds 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.