BridgeBio Pharma (NASDAQ:BBIO) Sets New 12-Month High - Still a Buy?

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

Analysts Set New Price Targets

BBIO has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Bank of America raised their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. HC Wainwright raised their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Piper Sandler raised their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.21.

BridgeBio Pharma Trading Up 0.4%

The company's fifty day simple moving average is $38.69 and its two-hundred day simple moving average is $35.26.

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

Insider Activity at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $44.00, for a total value of $154,000,000.00. Following the completion of the transaction, the insider directly owned 18,555,375 shares of the company's stock, valued at approximately $816,436,500. The trade was a 15.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the transaction, the insider directly owned 13,260,971 shares of the company's stock, valued at $453,525,208.20. This trade represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,936,181 shares of company stock worth $375,878,164 over the last 90 days. Company insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors lifted its position in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in BridgeBio Pharma by 29.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock valued at $1,065,000 after purchasing an additional 6,997 shares during the last quarter. Teacher Retirement System of Texas lifted its position in BridgeBio Pharma by 28.6% in the 4th quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company's stock valued at $994,000 after purchasing an additional 8,048 shares during the last quarter. 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 purchasing an additional 879,059 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in BridgeBio Pharma by 2.8% in the 4th quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after purchasing an additional 3,706 shares during the last quarter. 99.85% of the stock is 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.