Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $53.00

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have received an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.00.

Several research firms recently commented on BBIO. HC Wainwright boosted their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Scotiabank lifted their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Evercore ISI raised their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Finally, Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st.

Insider Activity

In related news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now owns 102,464 shares in the company, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,694,739 shares of company stock worth $327,308,651 over the last three months. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in BBIO. Ironwood Investment Management LLC raised its stake in shares of BridgeBio Pharma by 0.5% in the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after buying an additional 338 shares during the period. GAMMA Investing LLC grew its holdings in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after buying an additional 382 shares in the last quarter. Summit Investment Advisors Inc. increased its position in BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after purchasing an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after buying an additional 472 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after acquiring an additional 592 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Trading Up 0.1 %

Shares of BBIO stock traded up $0.02 during trading hours on Wednesday, hitting $33.87. 1,410,624 shares of the company were exchanged, compared to its average volume of 2,271,192. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.47. The firm has a fifty day simple moving average of $33.79 and a 200 day simple moving average of $30.14. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -11.88 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. Sell-side 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.