BridgeBio Pharma (NASDAQ:BBIO) Given New $106.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised BridgeBio Pharma’s price target to $106 from $104 and maintained a “buy” rating, implying approximately 26% upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $100.53.
• BridgeBio’s quarterly revenue rose 120.4% year over year to $243.7 million, exceeding expectations, driven by strong Attruby sales; however, its $0.78 per-share loss was wider than analysts’ forecast.
• Shares recently traded at $84.15, while insiders sold approximately $29.9 million of stock during the last quarter. Institutional investors continue to hold nearly 99.9% of the company’s shares.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) had its price target increased by stock analysts at Canaccord Genuity Group from $104.00 to $106.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 25.97% from the company's previous close.

BBIO has been the subject of several other reports. Morgan Stanley lowered their price objective on shares of BridgeBio Pharma from $98.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday. HC Wainwright increased their target price on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Citigroup lifted their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Piper Sandler boosted their price target on BridgeBio Pharma from $111.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Raymond James Financial lowered BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.53.

BridgeBio Pharma Stock Up 0.5%

Shares of BBIO stock traded up $0.45 during trading hours on Wednesday, hitting $84.15. 333,352 shares of the company were exchanged, compared to its average volume of 2,987,676. The firm has a fifty day moving average of $76.47 and a 200 day moving average of $73.07. BridgeBio Pharma has a 1 year low of $46.81 and a 1 year high of $93.42. The firm has a market cap of $16.45 billion, a PE ratio of -23.57 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analysts' expectations of $220.91 million. During the same period last year, the firm posted ($0.95) EPS. The business's revenue for the quarter was up 120.4% compared to the same quarter last year. Analysts expect that BridgeBio Pharma will post -2.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the sale, the chief executive officer directly owned 535,686 shares in the company, valued at $36,137,377.56. This trade represents a 6.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the sale, the director owned 11,589 shares of the company's stock, valued at $778,201.35. This represents a 46.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 392,117 shares of company stock worth $29,934,700 over the last quarter. Company insiders own 14.23% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Silvant Capital Management LLC acquired a new stake in BridgeBio Pharma in the second quarter valued at $28,000. Allworth Financial LP bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Finally, Farther Finance Advisors LLC lifted its position in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after purchasing an additional 245 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma News Summary

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: Analysts raised price targets following the second-quarter update. JPMorgan lifted its target from $100 to $111 and maintained an “overweight” rating. Piper Sandler raised its target to $115, while TD Cowen increased its target to $110, Bank of America to $104, and Wells Fargo to $102. These targets imply substantial upside from BBIO’s recent trading level. Benzinga analyst price-target updates
• Positive Sentiment: Attruby sales are accelerating sharply. Second-quarter revenue reached $243.7 million, exceeding the $220.9 million consensus estimate and rising 120.4% year over year. Attruby U.S. net sales reportedly increased 311% year over year, while ex-U.S. Beyonttra royalties grew 62% sequentially. Management reaffirmed guidance for more than $1 billion in combined 2026 Attruby and Beyonttra global sales. Q2 earnings and Attruby sales report
• Positive Sentiment: Pipeline and financing developments support the growth outlook. BridgeBio expects three product launches by mid-2027, and a reported $1 billion preferred-equity raise may provide additional capital for commercial expansion and pipeline investment. BridgeBio Attruby and pipeline outlook
• Neutral Sentiment: BridgeBio granted restricted stock units covering 66,705 shares to 56 new employees. The grants are intended to support hiring and retention but will create limited future dilution. BridgeBio inducement grants announcement
• Negative Sentiment: Profitability remains a concern. BBIO reported a second-quarter loss of $0.78 per share, wider than the roughly $0.58–$0.64 analyst estimates, despite improving from a $0.95 loss a year earlier. Continued investment and launch costs could keep earnings negative in the near term. BridgeBio second-quarter earnings report

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.

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