BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $82.00

Key Points

• UBS Group has raised its price target for BridgeBio Pharma from $72.00 to $82.00, indicating a potential upside of 56.21% from the current stock price.
• BridgeBio Pharma's recent quarterly earnings report showed a revenue of $110.57 million, significantly up 4999.9% compared to the same quarter last year, although it reported a loss of ($0.95) earnings per share.
• The stock is currently rated as a "buy" by 17 analysts with an average price target of $63.94.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) had its target price lifted by investment analysts at UBS Group from $72.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 56.21% from the company's current price.

Other analysts also recently issued reports about the company. Jefferies Financial Group initiated coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Raymond James Financial assumed coverage on BridgeBio Pharma in a research note on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price objective for the company. HC Wainwright upped their price objective on BridgeBio Pharma from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Piper Sandler raised their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $63.94.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded down $0.11 on Friday, hitting $52.49. The stock had a trading volume of 373,944 shares, compared to its average volume of 2,945,697. BridgeBio Pharma has a 12-month low of $21.72 and a 12-month high of $54.60. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of -12.83 and a beta of 1.25. The business has a 50 day moving average of $48.39 and a 200 day moving average of $40.15.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million for the quarter, compared to analyst estimates of $98.46 million. The business's quarterly revenue was up 4999.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.39) earnings per share. As a group, research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $45.45, for a total transaction of $1,818,000.00. Following the transaction, the chief executive officer owned 935,686 shares of the company's stock, valued at $42,526,928.70. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 18,555,375 shares in the company, valued at $816,436,500. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,202,620 shares of company stock worth $187,174,970. 18.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $25,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 382 shares during the period. 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 raised its stake in shares of BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company's stock valued at $54,000 after purchasing an additional 228 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $109,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

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.

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