BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and twenty-three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.75.

Several brokerages have recently issued reports on BBIO. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Morgan Stanley lifted their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Truist Financial boosted their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the transaction, the director owned 11,589 shares of the company’s stock, valued at $874,505.94. This represents a 46.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of the firm’s stock in a transaction 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 transaction, the director owned 18,589 shares in the company, valued at $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 237,084 shares of company stock valued at $16,608,419. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Brooklands Fund Management Ltd bought a new position in BridgeBio Pharma during the fourth quarter worth about $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after acquiring an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after acquiring an additional 2,259,378 shares during the period. Norges Bank acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $84,488,000. Finally, Wellington Management Group LLP boosted its stake in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after acquiring an additional 1,329,537 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $74.26 on Wednesday. The firm has a 50 day simple moving average of $71.65 and a 200 day simple moving average of $67.73. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $84.94. The firm has a market cap of $14.40 billion, a P/E ratio of -19.65 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 business had revenue of $154.18 million during the quarter, compared to analysts’ expectations of $150.71 million. The business’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same quarter last year, the company posted ($1.40) earnings per share. On average, sell-side analysts expect that BridgeBio Pharma will post -3.67 EPS for the current year.

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.