BridgeBio Pharma (NASDAQ:BBIO) Sets New 1-Year High - Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $48.92 and last traded at $47.06, with a volume of 1068 shares changing hands. The stock had previously closed at $46.97.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BBIO. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Scotiabank boosted their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Oppenheimer upgraded BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price objective on the stock in a report on Wednesday, July 9th. Wolfe Research initiated coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price objective for the company. Finally, HC Wainwright increased their target price on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.20.

BridgeBio Pharma Stock Up 0.5%

The firm has a market cap of $8.92 billion, a price-to-earnings ratio of -13.32 and a beta of 1.15. The company's fifty day moving average is $39.54 and its 200 day moving average is $35.78.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The company's quarterly revenue was down 44.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) earnings per share. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, Director Andrew Lo sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the transaction, the director owned 105,583 shares of the company's stock, valued at $4,064,945.50. The trade was a 48.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider directly owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,926,181 shares of company stock valued at $375,528,164. Corporate insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BBIO. First Bank & Trust lifted its stake in BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company's stock valued at $381,000 after purchasing an additional 329 shares during the last quarter. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after buying an additional 382 shares during the period. Xponance Inc. lifted its position in shares of BridgeBio Pharma by 3.8% in the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after buying an additional 385 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after acquiring an additional 466 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted 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 worth $28,000 after acquiring an additional 472 shares during the period. Institutional investors own 99.85% of the company's stock.

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.