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

Key Points

• Analysts give BridgeBio Pharma a “Moderate Buy” consensus: Of 23 analysts, 20 rate the stock a buy, two recommend holding, and one rates it a sell. The average 12-month price target is $95.21, above the reported opening price of $79.96.
• Recent analyst views remain generally positive but varied: Truist raised its target to $102, while RBC initiated coverage with a $100 target. Raymond James downgraded the stock to “market perform,” and Mizuho and Citigroup adjusted their targets to $96 and $93, respectively.
• BridgeBio’s latest results showed strong revenue growth but an earnings miss: Quarterly revenue rose 66.8% year over year to $194.51 million, but adjusted EPS of negative $0.84 was below the consensus estimate of negative $0.70. Insiders sold $32.65 million worth of shares over the last quarter, while institutional investors own 99.85% of the stock.

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-three analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $95.2105.

A number of research firms have recently commented on BBIO. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price objective on the stock. Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Raymond James Financial lowered shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. Mizuho cut their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 16th. Finally, Citigroup increased their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th.

BridgeBio Pharma Stock Down 0.2%

Shares of BridgeBio Pharma stock opened at $79.96 on Tuesday. BridgeBio Pharma has a twelve month low of $42.09 and a twelve month high of $93.42. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of -21.38 and a beta of 0.96. The company's fifty day moving average is $74.44 and its 200 day moving average is $72.80.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. During the same quarter in the previous year, the firm earned ($0.88) EPS. BridgeBio Pharma's revenue was up 66.8% compared to the same quarter last year. As a group, equities analysts anticipate that BridgeBio Pharma will post -2.27 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,196 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72. Following the completion of the sale, the director owned 9,259 shares of the company's stock, valued at $634,889.63. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the sale, the chief accounting officer owned 127,401 shares of the company's stock, valued at approximately $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 432,117 shares of company stock worth $32,650,700 over the last quarter. 14.23% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the first quarter worth $35,000. Farther Finance Advisors LLC increased its stake in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Global Retirement Partners LLC increased its stake in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 99.85% of the company's stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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