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

Key Points

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Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have received a consensus recommendation of "Buy" from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. Seventeen investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $61.3529.

A number of research firms have recently weighed in on BBIO. UBS Group upped their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Citigroup boosted their price target on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, HC Wainwright raised their price objective on BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, June 9th.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the transaction, the chief accounting officer owned 141,859 shares in the company, valued at $6,446,072.96. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Homcy sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director owned 916,674 shares in the company, valued at $44,000,352. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,007,166 shares of company stock valued at $177,120,746. Company insiders own 18.20% of the company's stock.

Institutional Trading of BridgeBio Pharma

Several large investors have recently modified their holdings of BBIO. Cambridge Investment Research Advisors Inc. boosted its position in BridgeBio Pharma by 29.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock worth $1,065,000 after purchasing an additional 6,997 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. GAMMA Investing LLC boosted its holdings in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in BridgeBio Pharma during the first quarter valued at approximately $251,000. Finally, Legal & General Group Plc increased its holdings in BridgeBio Pharma by 2.8% during the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after buying an additional 3,706 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

BBIO stock opened at $49.02 on Tuesday. BridgeBio Pharma has a fifty-two week low of $21.72 and a fifty-two week high of $51.86. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of -11.99 and a beta of 1.23. The business's 50 day moving average price is $45.11 and its two-hundred day moving average price is $38.06.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share 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 the consensus estimate of $98.46 million. The firm's quarterly revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) EPS. Sell-side analysts forecast that BridgeBio Pharma will post -3.67 earnings per share 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.

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