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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $47.21.

A number of equities research analysts have weighed in on the stock. Raymond James began coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Tuesday, May 28th. Bank of America dropped their price target on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI started coverage on BridgeBio Pharma in a research note on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Mizuho decreased their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $23.56 on Thursday. BridgeBio Pharma has a 12-month low of $15.36 and a 12-month high of $44.32. The stock has a market capitalization of $4.41 billion, a PE ratio of -7.32 and a beta of 1.08. The firm has a 50 day simple moving average of $27.39 and a 200-day simple moving average of $31.75.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to the consensus estimate of $140.06 million. On average, analysts forecast that BridgeBio Pharma will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently modified their holdings of BBIO. Zimmer Partners LP grew its stake in BridgeBio Pharma by 12.6% in the first quarter. Zimmer Partners LP now owns 73,200 shares of the company’s stock valued at $2,263,000 after purchasing an additional 8,200 shares in the last quarter. Comerica Bank lifted its holdings in shares of BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after buying an additional 37,277 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock valued at $3,265,000 after buying an additional 7,153 shares in the last quarter. Janus Henderson Group PLC increased its holdings in BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after acquiring an additional 145,594 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.