BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $57.09 Average PT from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.09.

BBIO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. UBS Group raised their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Scotiabank lifted their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. HC Wainwright increased their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Finally, Piper Sandler raised their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Andrew Lo sold 100,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $38.50, for a total value of $3,850,000.00. Following the completion of the transaction, the director now directly owns 105,583 shares of the company's stock, valued at $4,064,945.50. The trade was a 48.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $408,600. The trade was a 71.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,410,217 shares of company stock valued at $212,434,332 over the last quarter. Corporate insiders own 24.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BBIO. American Century Companies Inc. boosted its stake in shares of BridgeBio Pharma by 1.2% during the 1st quarter. American Century Companies Inc. now owns 1,027,488 shares of the company's stock worth $35,520,000 after purchasing an additional 11,760 shares during the last quarter. E Fund Management Co. Ltd. boosted its position in BridgeBio Pharma by 6.2% during the first quarter. E Fund Management Co. Ltd. now owns 18,890 shares of the company's stock worth $653,000 after acquiring an additional 1,105 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in BridgeBio Pharma during the first quarter worth approximately $3,916,000. Nuveen LLC purchased a new stake in BridgeBio Pharma in the 1st quarter worth approximately $14,973,000. Finally, Invesco Ltd. raised its holdings in BridgeBio Pharma by 147.0% in the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock valued at $76,267,000 after acquiring an additional 1,313,036 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded down $2.42 during midday trading on Friday, hitting $33.26. The company had a trading volume of 6,478,443 shares, compared to its average volume of 2,421,059. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -11.67 and a beta of 1.15. The company's 50 day simple moving average is $34.29 and its 200 day simple moving average is $31.38. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The business's quarterly revenue was down 44.8% compared to the same quarter last year. Analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current year.

BridgeBio Pharma Company Profile

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.