Mizuho Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its price objective increased by Mizuho from $91.00 to $106.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial upped 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. Morgan Stanley lifted their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, HC Wainwright raised their target price on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Twenty-four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.00.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $70.12 on Wednesday. The company has a market capitalization of $13.59 billion, a PE ratio of -18.55 and a beta of 1.13. The company has a 50 day moving average price of $72.78 and a 200-day moving average price of $66.48. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to the consensus estimate of $150.71 million. The firm’s quarterly revenue was up 2521.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.40) earnings per share. On average, analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrea Ellis sold 64,921 shares of BridgeBio Pharma stock in a transaction dated 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 transaction, the director owned 18,589 shares in the company, valued at $1,205,868.43. The trade was a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the completion of the transaction, the chief executive officer owned 695,686 shares of the company’s stock, valued at $50,047,650.84. This represents a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 237,084 shares of company stock worth $16,608,419. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brooklands Fund Management Ltd purchased a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD grew its holdings in BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC grew its holdings in BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after purchasing an additional 2,259,378 shares during the last quarter. Norges Bank acquired a new position in shares of BridgeBio Pharma during the second quarter worth $84,488,000. Finally, Wellington Management Group LLP increased its position in shares of BridgeBio Pharma by 130.4% during the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after purchasing an additional 1,329,537 shares in the last quarter. Hedge funds and other 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.