BridgeBio Pharma (NASDAQ:BBIO) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO - Free Report) in a research report report published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $70.00 price target on the stock.

Several other research firms have also issued reports on BBIO. Scotiabank lifted their target price 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. HC Wainwright lifted their target price 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. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Oppenheimer upgraded shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 target price for the company in a report on Wednesday, July 9th. Finally, 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 report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.20.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded up $0.13 during trading hours on Monday, hitting $47.10. The company's stock had a trading volume of 2,583,390 shares, compared to its average volume of 2,547,850. The business has a 50-day simple moving average of $39.08 and a 200-day simple moving average of $35.57. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of -13.34 and a beta of 1.15. BridgeBio Pharma has a 12 month low of $21.72 and a 12 month high of $48.68.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The business's revenue was down 44.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) earnings per share. On average, equities research analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on 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 sale, the insider directly owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total transaction of $2,558,250.00. Following the sale, the chief executive officer owned 4,873,447 shares of the company's stock, valued at approximately $166,233,277.17. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,926,181 shares of company stock worth $375,528,164 over the last 90 days. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in 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 during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $35,000. Steward Partners Investment Advisory LLC grew its position in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after acquiring an additional 472 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. Finally, Sterling Capital Management LLC grew its position in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the period. 99.85% of the stock is currently owned by hedge funds and other 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.