Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $100.79

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $100.7895.

Several analysts recently commented on BBIO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. TD Cowen increased their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Mizuho lowered their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Weiss Ratings cut shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Truist Financial lifted their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th.

BridgeBio Pharma Stock Down 0.0%

BridgeBio Pharma stock opened at $76.59 on Friday. The firm has a 50-day moving average price of $80.23 and a two-hundred day moving average price of $73.59. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of -21.45 and a beta of 0.96. BridgeBio Pharma has a 52-week low of $48.78 and a 52-week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. The company’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) EPS. Research analysts expect that BridgeBio Pharma will post -2.62 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, Director Hannah Valantine sold 2,808 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the sale, the director directly owned 11,455 shares of the company’s stock, valued at approximately $778,940. This represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the transaction, the chief executive officer owned 535,686 shares of the company’s stock, valued at $36,137,377.56. This trade represents a 6.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 387,343 shares of company stock worth $30,289,400 in the last 90 days. Corporate insiders own 14.23% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new stake in BridgeBio Pharma in the second quarter worth approximately $28,000. Allworth Financial LP acquired a new position in shares of BridgeBio Pharma during the 2nd quarter valued at $31,000. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth $35,000. Finally, Farther Finance Advisors LLC raised its stake in shares of BridgeBio Pharma by 91.4% in 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. 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.