BridgeBio Pharma (NASDAQ:BBIO) Sets New 12-Month High - Time to Buy?

Key Points

• BridgeBio Pharma (NASDAQ:BBIO) reached a new 52-week high on Tuesday, trading as high as $49.18 before closing at $49.69.
• Analysts have varying opinions on the stock; while Truist Financial and Jefferies issued "buy" ratings with price targets up to $70, Wall Street Zen downgraded it to "sell."
• The company reported a loss of ($0.95) earnings per share, which was below analyst expectations and indicates ongoing challenges in financial performance.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $49.18 and last traded at $49.69, with a volume of 2349321 shares changing hands. The stock had previously closed at $47.75.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler upped their target price on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price target on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. UBS Group lifted their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Finally, Oppenheimer lifted their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.35.

BridgeBio Pharma Price Performance

The company has a market cap of $8.59 billion, a PE ratio of -11.08 and a beta of 1.23. The business has a 50 day moving average of $43.17 and a 200 day moving average of $37.32.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The firm's quarterly revenue was up 4999.9% on a year-over-year basis. During the same period last year, the firm posted ($0.39) EPS. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hannah Valantine sold 2,289 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.05, for a total transaction of $100,830.45. Following the transaction, the director directly owned 398 shares in the company, valued at $17,531.90. This trade represents a 85.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Mccormick sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the transaction, the director owned 879,979 shares of the company's stock, valued at approximately $38,921,471.17. This trade represents a 10.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,750,155 shares of company stock worth $369,080,403. 18.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in shares of BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $41,000. Finally, Sterling Capital Management LLC raised its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.