BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• BridgeBio Pharma has a consensus analyst rating of “Moderate Buy” from 24 covering firms, with 21 buy ratings and an average 12-month price target of $92.90.
• The stock was trading around $90.17, near its 1-year high of $93.42, after a recent 15.1% move higher; its market cap is about $17.66 billion.
• In its latest earnings report, BridgeBio posted a loss of $0.84 per share, wider than expected, but revenue came in at $194.51 million, topping estimates and rising 66.8% year over year.

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-four research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $92.90.

A number of analysts have weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $110.00 target price on shares of BridgeBio Pharma in a research report on Thursday, May 28th. Mizuho reduced their target price on BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a report on Tuesday, June 16th. Canaccord Genuity Group started coverage on BridgeBio Pharma in a report on Wednesday, June 3rd. They set a "buy" rating and a $104.00 price target for the company. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Morgan Stanley raised their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th.

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,196 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the completion of the sale, the director directly owned 9,259 shares of the company's stock, valued at approximately $634,889.63. This represents a 19.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 266,361 shares of company stock valued at $18,035,642 over the last quarter. 14.23% of the stock is currently owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of BBIO. First Bank & Trust increased its position in shares of BridgeBio Pharma by 1.6% during the 2nd quarter. First Bank & Trust now owns 8,797 shares of the company's stock valued at $655,000 after purchasing an additional 142 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BridgeBio Pharma by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,646 shares of the company's stock worth $123,000 after acquiring an additional 199 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in BridgeBio Pharma by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company's stock worth $396,000 after purchasing an additional 244 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of BridgeBio Pharma by 91.4% in the fourth 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. Finally, State of New Jersey Common Pension Fund D lifted its stake in BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock worth $3,970,000 after purchasing an additional 246 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 15.1%

Shares of BridgeBio Pharma stock opened at $90.17 on Friday. The company has a 50 day moving average of $69.46 and a 200-day moving average of $72.03. BridgeBio Pharma has a 1-year low of $42.09 and a 1-year high of $93.42. The company has a market cap of $17.66 billion, a PE ratio of -24.11 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to analysts' expectations of $178.07 million. The business's quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.88) earnings per share. Research analysts forecast that BridgeBio Pharma will post -2.29 earnings per share for the current year.

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.

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