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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has been given an average rating of "Moderate Buy" by the eighteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and seventeen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.9412.

A number of brokerages recently weighed in on BBIO. Wall Street Zen upgraded BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America upped their price target on BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group upped their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wolfe Research began coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, June 30th.

Insider Transactions at BridgeBio Pharma

In other news, Director Frank Mccormick sold 74,000 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $53.16, for a total value of $3,933,840.00. Following the transaction, the director directly owned 83,275 shares of the company's stock, valued at $4,426,899. The trade was a 47.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Trimarchi sold 42,237 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the transaction, the chief financial officer directly owned 421,081 shares in the company, valued at $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 557,913 shares of company stock worth $26,843,027. 18.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of BridgeBio Pharma in the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in shares of BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Steward Partners Investment Advisory LLC lifted its stake in shares of BridgeBio Pharma by 22.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company's stock valued at $54,000 after purchasing an additional 228 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of BridgeBio Pharma by 218.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,167 shares of the company's stock valued at $179,000 after purchasing an additional 2,858 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Down 0.7%

Shares of BBIO stock opened at $54.22 on Wednesday. The firm has a market capitalization of $10.37 billion, a P/E ratio of -13.26 and a beta of 1.36. BridgeBio Pharma has a twelve month low of $21.72 and a twelve month high of $55.13. The stock's fifty day simple moving average is $50.59 and its 200 day simple moving average is $42.55.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. The firm's revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts expect that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

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.

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