BridgeBio Pharma (NASDAQ:BBIO) Hits New 52-Week High - Here's What Happened

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $41.36 and last traded at $41.14, with a volume of 2864209 shares changing hands. The stock had previously closed at $39.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BBIO shares. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Redburn Atlantic assumed coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price target for the company. UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.36.

BridgeBio Pharma Trading Up 3.4%

The company has a market cap of $7.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.10. The firm's fifty day moving average price is $35.51 and its 200-day moving average price is $33.26.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly 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 firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same period last year, the firm earned ($0.20) EPS. BridgeBio Pharma's quarterly revenue was down 44.8% on a year-over-year basis. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Activity

In related news, Director Andrea Ellis sold 10,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. Following the sale, the director now directly owns 12,000 shares of the company's stock, valued at approximately $420,000. The trade was a 45.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the sale, the chief executive officer now directly owns 4,948,447 shares in the company, valued at $182,449,240.89. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,396,474 shares of company stock valued at $219,332,971 in the last quarter. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after acquiring an additional 879,059 shares in the last quarter. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after buying an additional 89,521 shares in the last quarter. Farallon Capital Management LLC lifted its position in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after buying an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock worth $104,285,000 after buying an additional 40,000 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after buying an additional 912,439 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

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.

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