Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.92

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $47.92.

Several research firms have recently commented on BBIO. Piper Sandler initiated coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. HC Wainwright restated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Finally, Evercore ISI lowered their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th.

Insider Activity

In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,831,544 shares of company stock worth $150,128,821. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new stake in BridgeBio Pharma during the 1st quarter valued at $34,000. Bfsg LLC boosted its stake in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the last quarter. Quarry LP purchased a new stake in BridgeBio Pharma during the 4th quarter worth about $50,000. Headlands Technologies LLC acquired a new position in BridgeBio Pharma in the 2nd quarter valued at about $48,000. Finally, Assetmark Inc. lifted its holdings in BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after purchasing an additional 935 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $25.23 on Friday. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The firm has a market cap of $4.72 billion, a PE ratio of -7.84 and a beta of 1.08. The firm’s fifty day moving average is $26.08 and its two-hundred day moving average is $26.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same quarter last year, the firm earned ($0.98) EPS. The business’s revenue was up 32.1% on a year-over-year basis. Research analysts predict that BridgeBio Pharma will post -2.54 earnings per share for the current year.

BridgeBio Pharma Company Profile

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.