BridgeBio Pharma (NASDAQ:BBIO) Hits New 1-Year High - What's Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.79 and last traded at $45.15, with a volume of 1378383 shares. The stock had previously closed at $43.19.

Analyst Upgrades and Downgrades

BBIO has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. HC Wainwright lifted their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. UBS Group lifted their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Oppenheimer raised shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.21.

BridgeBio Pharma Stock Performance

The firm has a market capitalization of $8.82 billion, a P/E ratio of -13.16 and a beta of 1.15. The stock has a 50-day moving average of $38.53 and a 200 day moving average of $35.13.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $57.14 million. The firm's revenue was down 44.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) earnings per share. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank Mccormick sold 100,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the transaction, the director owned 879,979 shares of the company's stock, valued at $38,921,471.17. This represents a 10.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Lo sold 100,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total value of $3,850,000.00. Following the completion of the transaction, the director directly owned 105,583 shares in the company, valued at approximately $4,064,945.50. This trade represents a 48.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,936,181 shares of company stock worth $375,878,164 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBIO. Vanguard Group Inc. raised its stake in BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after buying an additional 879,059 shares during the period. Janus Henderson Group PLC raised its stake 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 during the period. Farallon Capital Management LLC raised its stake 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 during the period. Frazier Life Sciences Management L.P. raised its stake 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 during the period. Finally, Capital Research Global Investors raised its stake 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 during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

About BridgeBio Pharma

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.