BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Truist Financial

Equities research analysts at Truist Financial started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) in a research report issued on Monday, MarketBeat reports. The firm set a "buy" rating and a $66.00 price target on the stock. Truist Financial's target price would indicate a potential upside of 44.20% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. HC Wainwright lifted their target price on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, June 9th. UBS Group lifted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Piper Sandler boosted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average price target of $61.50.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.13 during mid-day trading on Monday, hitting $45.77. 2,108,962 shares of the company were exchanged, compared to its average volume of 2,552,379. The firm has a market cap of $8.69 billion, a P/E ratio of -12.97 and a beta of 1.15. The firm's 50 day simple moving average is $39.79 and its 200 day simple moving average is $36.03. BridgeBio Pharma has a 1-year low of $21.72 and a 1-year high of $48.68.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. BridgeBio Pharma's revenue was down 44.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) earnings per share. On average, equities research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the sale, the insider directly owned 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hannah Valantine sold 2,289 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $44.05, for a total value of $100,830.45. Following the completion of the transaction, the director directly owned 398 shares in the company, valued at approximately $17,531.90. This trade represents a 85.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,851,181 shares of company stock valued at $372,969,914 over the last three months. Insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BBIO. Farallon Capital Management LLC lifted its holdings 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 purchasing an additional 2,448,000 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in BridgeBio Pharma during the 1st quarter worth about $51,874,000. Invesco Ltd. raised its holdings in shares of BridgeBio Pharma by 147.0% in the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock valued at $76,267,000 after acquiring an additional 1,313,036 shares in the last quarter. Woodline Partners LP raised its holdings in shares of BridgeBio Pharma by 132.9% in the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company's stock valued at $60,684,000 after acquiring an additional 1,261,772 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of BridgeBio Pharma by 4,544.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company's stock valued at $38,751,000 after acquiring an additional 1,096,799 shares in the last quarter. Institutional investors 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.