BridgeBio Pharma (NASDAQ:BBIO) Raised to "Moderate Buy" at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded BridgeBio to a "Moderate Buy," joining many analysts who have raised price targets (consensus price target $87.38) amid 24 Buy ratings and one Sell on the stock.
• BridgeBio reported Q results with EPS of ($1.00) (missing estimates by $0.25) but revenue of $154.18M that beat estimates and was up 2521.2% year‑over‑year; the shares trade around $75.52 with a $14.64B market cap.
• Company insiders have sold shares recently (197,084 shares worth ~$13.65M over three months, including the CEO), while insiders still own 18.2% and institutional investors reportedly hold about 99.85% of the stock.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada to a "moderate buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on BBIO. Wells Fargo & Company lifted their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. TD Cowen reaffirmed a "buy" rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Truist Financial lifted their price target on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Mizuho lifted their price target on shares of BridgeBio Pharma from $91.00 to $106.00 and gave the company an "outperform" rating in a research report on Wednesday, March 18th. Finally, Barclays reaffirmed an "overweight" rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Twenty-four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.38.

BridgeBio Pharma Price Performance

BBIO opened at $75.52 on Wednesday. The company's 50 day simple moving average is $70.97 and its two-hundred day simple moving average is $68.55. BridgeBio Pharma has a 1-year low of $30.08 and a 1-year high of $84.94. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of -19.98 and a beta of 1.09.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. BridgeBio Pharma's quarterly revenue was up 2521.2% on a year-over-year basis. During the same quarter last year, the business earned ($1.40) earnings per share. On average, equities analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 510 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the completion of the sale, the chief accounting officer owned 123,945 shares in the company, valued at approximately $9,210,352.95. This trade represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $68.73, for a total transaction of $2,749,200.00. Following the completion of the sale, the chief executive officer owned 655,686 shares of the company's stock, valued at $45,065,298.78. This trade represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 197,084 shares of company stock worth $13,649,619 in the last three months. Company insiders own 18.20% of the company's stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company's stock valued at $874,257,000 after purchasing an additional 347,074 shares during the last quarter. Janus Henderson Group PLC increased its holdings in BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company's stock valued at $841,349,000 after purchasing an additional 2,259,378 shares during the last quarter. Farallon Capital Management LLC increased its holdings in BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company's stock valued at $688,292,000 after purchasing an additional 806,463 shares during the last quarter. Aisling Capital Management LP increased its holdings in BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company's stock valued at $316,294,000 after purchasing an additional 21,486 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company's stock valued at $369,547,000 after purchasing an additional 902,648 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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