BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• BridgeBio Pharma has a consensus analyst rating of “Moderate Buy”, based on coverage from 26 research firms. The average 12-month target price is about $89.59.
• Recent analyst actions were mostly positive, with firms like Morgan Stanley, HC Wainwright, Mizuho, and Truist raising or reaffirming bullish ratings and higher price targets. One notable exception was Weiss Ratings, which maintained a sell rating.
• Despite strong institutional interest, insiders have been selling shares: directors and officers sold 171,754 shares over the last 90 days. BridgeBio also reported quarterly revenue growth of 66.8% year over year, though earnings per share missed estimates.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $89.5909.

A number of research firms recently commented on BBIO. Morgan Stanley boosted their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. HC Wainwright reissued a "buy" rating and issued a $110.00 target price on shares of BridgeBio Pharma in a research report on Thursday, May 28th. Mizuho reissued an "outperform" rating and issued a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Weiss Ratings reissued a "sell (d)" rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th.

Insider Activity

In other news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the transaction, the director directly owned 11,589 shares of the company's stock, valued at $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total transaction of $143,160.00. Following the completion of the transaction, the chief accounting officer directly owned 134,115 shares in the company, valued at approximately $9,599,951.70. This trade represents a 1.47% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 171,754 shares of company stock valued at $11,914,859. 14.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of BridgeBio Pharma by 552.6% in the first quarter. Parallel Advisors LLC now owns 894 shares of the company's stock worth $66,000 after acquiring an additional 757 shares in the last quarter. Avidity Partners Management LP purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $711,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock valued at $978,608,000 after purchasing an additional 2,178,556 shares in the last quarter. California State Teachers Retirement System grew its position in BridgeBio Pharma by 23.7% during the first quarter. California State Teachers Retirement System now owns 165,703 shares of the company's stock valued at $12,305,000 after purchasing an additional 31,797 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its position in BridgeBio Pharma by 23.9% during the first quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company's stock valued at $9,524,000 after purchasing an additional 24,750 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $66.80 on Monday. The company's 50 day simple moving average is $70.22 and its 200 day simple moving average is $72.12. BridgeBio Pharma has a 12 month low of $38.57 and a 12 month high of $84.94. The company has a market capitalization of $13.08 billion, a P/E ratio of -17.86 and a beta of 0.98.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter in the prior year, the firm earned ($0.88) EPS. BridgeBio Pharma's quarterly revenue was up 66.8% on a year-over-year basis. On average, analysts anticipate that BridgeBio Pharma will post -2.32 earnings per share for the current year.

BridgeBio Pharma Company Profile

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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