Mizuho Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its price target upped by stock analysts at Mizuho from $91.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 50.11% from the company’s previous close.

Several other equities research analysts have also weighed in on BBIO. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Oppenheimer dropped their price target on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Finally, William Blair started coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating on the stock. Twenty-four equities research analysts have rated the stock with a Buy rating and one has given 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

BBIO traded down $0.33 on Wednesday, reaching $70.62. 617,718 shares of the company’s stock were exchanged, compared to its average volume of 3,065,339. The company’s 50 day moving average is $72.86 and its 200-day moving average is $66.45. The company has a market cap of $13.69 billion, a price-to-earnings ratio of -18.70 and a beta of 1.13. BridgeBio Pharma has a twelve month low of $28.33 and a twelve month 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 for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to the consensus estimate of $150.71 million. BridgeBio Pharma’s quarterly revenue was up 2521.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.40) earnings per share. Sell-side analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the sale, the chief financial officer directly owned 336,585 shares in the company, valued at $25,149,631.20. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total value of $754,600.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at approximately $874,505.94. This trade represents a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 237,084 shares of company stock worth $16,608,419. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of BridgeBio Pharma by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after purchasing an additional 347,074 shares in the last quarter. Janus Henderson Group PLC boosted its position 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 valued at $841,349,000 after buying an additional 2,259,378 shares in the last quarter. Farallon Capital Management LLC grew its stake in BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after buying an additional 806,463 shares during the last quarter. Aisling Capital Management LP increased its holdings in shares of BridgeBio Pharma by 0.4% during the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after buying an additional 21,486 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.