BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $48.09 Consensus Price Target from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $47.92.

BBIO has been the subject of several research reports. UBS Group decreased their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, May 28th. Evercore ISI lowered their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Bank of America cut their price target on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler started coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $30.70 on Tuesday. The company has a 50 day moving average of $26.29 and a 200-day moving average of $27.56. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32. The stock has a market capitalization of $5.74 billion, a PE ratio of -9.53 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the company posted ($0.98) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities analysts anticipate that BridgeBio Pharma will post -2.49 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Profund Advisors LLC boosted its position in shares of BridgeBio Pharma by 1.1% in the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after acquiring an additional 555 shares during the period. American International Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.0% during the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after purchasing an additional 565 shares during the period. Parkman Healthcare Partners LLC increased its holdings in shares of BridgeBio Pharma by 0.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after purchasing an additional 734 shares during the period. Bfsg LLC boosted its stake in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after buying an additional 935 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.