BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of "Buy" from Analysts

Key Points

• BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received a consensus rating of "Buy" from 17 research firms, with an average target price of $63.94.
• The company reported a 4999.9% increase in revenue to $110.57 million, although it missed EPS estimates by $0.12, posting a loss of ($0.95) per share.
• Insider transactions have seen significant selling activity, with CFO Thomas Trimarchi and Director Frank McCormick reducing their holdings, indicating potential caution among company insiders.

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have been assigned a consensus rating of "Buy" from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Seventeen investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $63.9412.

BBIO has been the subject of several analyst reports. Wolfe Research initiated coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price for the company. Scotiabank raised their target price on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 6th. Bank of America raised their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group raised their target price on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Oppenheimer lifted their price objective on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th.

BridgeBio Pharma Stock Down 2.6%

Shares of NASDAQ:BBIO opened at $51.21 on Friday. The firm has a market cap of $9.79 billion, a P/E ratio of -12.52 and a beta of 1.25. BridgeBio Pharma has a 12-month low of $21.72 and a 12-month high of $54.60. The business has a fifty day simple moving average of $48.54 and a 200 day simple moving average of $40.27.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company posted ($0.39) earnings per share. As a group, equities research analysts expect that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 42,237 shares of BridgeBio Pharma stock in a transaction dated Thursday, August 21st. The stock was 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 of the company's stock, valued at approximately $20,835,087.88. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the completion of the transaction, the director directly owned 879,979 shares of the company's stock, valued at approximately $38,921,471.17. This trade represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,202,620 shares of company stock worth $187,174,970. Corporate insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma in the 2nd quarter worth about $25,000. GAMMA Investing LLC grew 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 buying an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Steward Partners Investment Advisory LLC grew 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 buying an additional 228 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $109,000. 99.85% of the stock is owned by institutional investors.

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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