BridgeBio Pharma (NASDAQ:BBIO) Earns "Outperform" Rating from Mizuho

Key Points

• Mizuho reaffirmed an "outperform" rating on BridgeBio and set a $106 price objective, implying roughly a 45.7% upside from the current share price.
• Analyst sentiment is broadly positive with 24 Buys and 1 Sell and an average price target of $87.38 ("Moderate Buy"); the stock traded at $72.76 (-2.4%) and has a $14.1B market cap with a 52‑week range of $31.77–$84.94.
• BridgeBio reported Q4 EPS of ($1.00), missing estimates by $0.25, while revenue of $154.2M beat expectations and surged about 2521% year‑over‑year.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report)'s stock had its "outperform" rating reaffirmed by Mizuho in a note issued to investors on Tuesday,Benzinga reports. They currently have a $106.00 price objective on the stock. Mizuho's target price would suggest a potential upside of 45.69% from the stock's current price.

BBIO has been the subject of a number of other reports. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. William Blair started coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They issued an "outperform" rating on the stock. Finally, Oppenheimer lowered their target price on BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Twenty-four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $87.38.

BridgeBio Pharma Stock Down 2.4%

BridgeBio Pharma stock traded down $1.76 during trading hours on Tuesday, hitting $72.76. The stock had a trading volume of 5,286,068 shares, compared to its average volume of 2,655,610. The company has a 50-day moving average of $71.45 and a two-hundred day moving average of $70.74. The company has a market cap of $14.10 billion, a PE ratio of -19.34 and a beta of 1.09. BridgeBio Pharma has a fifty-two week low of $31.77 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to the consensus estimate of $150.71 million. The business's quarterly revenue was up 2521.2% on a year-over-year basis. During the same period last year, the company posted ($1.40) EPS. As a group, analysts forecast that BridgeBio Pharma will post -2.07 EPS for the current fiscal year.

Insider Activity

In related news, CAO Maricel Apuli sold 510 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total transaction of $37,898.10. Following the transaction, the chief accounting officer directly owned 123,945 shares in the company, valued at approximately $9,210,352.95. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the sale, the director directly owned 18,589 shares in the company, valued at $1,205,868.43. This trade represents a 77.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 237,084 shares of company stock worth $16,634,419. 18.20% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in BridgeBio Pharma by 2.1% during the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company's stock worth $874,257,000 after acquiring an additional 347,074 shares in the last quarter. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company's stock worth $841,349,000 after purchasing an additional 2,259,378 shares during the period. Farallon Capital Management LLC boosted its position in BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company's stock worth $688,292,000 after purchasing an additional 806,463 shares during the period. Aisling Capital Management LP boosted its position in BridgeBio Pharma by 0.4% during the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company's stock worth $316,294,000 after purchasing an additional 21,486 shares during the period. Finally, Invesco Ltd. boosted its position in BridgeBio Pharma by 23.0% during the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company's stock worth $369,547,000 after purchasing an additional 902,648 shares during the period. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.