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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.85.

Several equities analysts have issued reports on the company. Wolfe Research assumed coverage on BridgeBio Pharma in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price on the stock. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Piper Sandler lifted their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the transaction, the insider directly owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Mccormick sold 100,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the completion of the sale, the director directly owned 879,979 shares in the company, valued at $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. Insiders have sold 9,896,181 shares of company stock valued at $374,176,564 over the last quarter. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its stake in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after buying an additional 472 shares during the last quarter. GAMMA Investing LLC grew its holdings in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after acquiring an additional 382 shares during the period. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $41,000. Finally, Sterling Capital Management LLC lifted its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Up 2.0%

BBIO stock traded up $0.88 during trading on Monday, hitting $43.71. 2,459,721 shares of the company's stock traded hands, compared to its average volume of 2,498,574. The firm has a market capitalization of $8.30 billion, a P/E ratio of -12.38 and a beta of 1.15. BridgeBio Pharma has a 1 year low of $21.72 and a 1 year high of $45.48. The business has a fifty day simple moving average of $37.63 and a two-hundred day simple moving average of $34.41.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The firm's revenue was down 44.8% compared to the same quarter last year. During the same period last year, the business posted ($0.20) EPS. On average, equities research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal 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.