BridgeBio Pharma (NASDAQ:BBIO) Hits New 52-Week High – Still a Buy?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) reached a new 52-week high during trading on Thursday . The stock traded as high as $80.69 and last traded at $80.9020, with a volume of 501735 shares changing hands. The stock had previously closed at $78.15.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BBIO shares. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Wells Fargo & Company upped their price target on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price target on the stock. The Goldman Sachs Group boosted their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $71.00 target price (up from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $79.05.

BridgeBio Pharma Stock Down 2.6%

The firm has a 50-day moving average price of $74.22 and a two-hundred day moving average price of $60.10. The firm has a market cap of $15.01 billion, a PE ratio of -18.63 and a beta of 1.17.

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

Insider Transactions at BridgeBio Pharma

In related news, Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the completion of the sale, the director owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This represents a 52.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald J. Daniels sold 61,031 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the completion of the sale, the director owned 16,991 shares of the company’s stock, valued at approximately $1,082,666.52. The trade was a 78.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 587,215 shares of company stock valued at $39,569,101. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in the stock. Strs Ohio lifted its stake in BridgeBio Pharma by 1.1% in the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of BridgeBio Pharma by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after acquiring an additional 227 shares during the period. Steward Partners Investment Advisory LLC lifted its position in BridgeBio Pharma by 22.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Finally, Gabelli Funds LLC grew its position in BridgeBio Pharma by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock worth $3,185,000 after purchasing an additional 250 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

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.