Piper Sandler Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its target price upped by investment analysts at Piper Sandler from $111.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 35.82% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. HC Wainwright lifted their target price on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Mizuho dropped their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. Truist Financial increased their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Nineteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

BridgeBio Pharma Trading Up 0.2%

Shares of NASDAQ:BBIO opened at $84.67 on Tuesday. BridgeBio Pharma has a 1-year low of $46.28 and a 1-year high of $93.42. The stock has a market capitalization of $16.55 billion, a P/E ratio of -22.64 and a beta of 0.96. The business has a 50-day moving average price of $76.07 and a two-hundred day moving average price of $73.03.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The company’s revenue was up 120.4% on a year-over-year basis. As a group, equities analysts predict that BridgeBio Pharma will post -2.31 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the transaction, the chief executive officer owned 535,686 shares in the company, valued at $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at $742,230.82. This trade represents a 94.66% 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. In the last 90 days, insiders have sold 392,117 shares of company stock valued at $29,934,700. 14.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. Farther Finance Advisors LLC lifted its position in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth about $41,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after buying an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $44,000. 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.