BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $88.90 Consensus Price Target from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $88.9048.

Several brokerages recently weighed in on BBIO. William Blair began coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating for the company. Leerink Partners reissued an “outperform” rating and issued a $98.00 target price on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Oppenheimer cut their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $66.44 on Thursday. The stock has a market capitalization of $13.01 billion, a PE ratio of -17.76 and a beta of 1.02. BridgeBio Pharma has a 1 year low of $31.77 and a 1 year high of $84.94. The company’s 50-day simple moving average is $71.20 and its 200-day simple moving average is $72.05.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter in the previous year, the business posted ($0.88) EPS. The company’s revenue was up 66.8% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma will post -2.27 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, Director Andrea Ellis sold 64,921 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the sale, the director owned 18,589 shares in the company, valued at approximately $1,205,868.43. The trade was a 77.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. This represents a 46.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 236,675 shares of company stock worth $16,177,085. Corporate insiders own 14.23% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after acquiring an additional 2,178,556 shares during the period. California State Teachers Retirement System boosted its holdings in BridgeBio Pharma by 23.7% in the 1st quarter. California State Teachers Retirement System now owns 165,703 shares of the company’s stock worth $12,305,000 after acquiring an additional 31,797 shares during the period. Rock Springs Capital Management LP boosted its holdings in BridgeBio Pharma by 23.9% in the 1st quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company’s stock worth $9,524,000 after acquiring an additional 24,750 shares during the period. Eagle Health Investments LP boosted its holdings in BridgeBio Pharma by 3.0% in the 1st quarter. Eagle Health Investments LP now owns 267,031 shares of the company’s stock worth $19,830,000 after acquiring an additional 7,731 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in BridgeBio Pharma by 199.2% in the 1st quarter. Quantinno Capital Management LP now owns 32,240 shares of the company’s stock worth $2,394,000 after acquiring an additional 21,464 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.