BridgeBio Pharma (NASDAQ:BBIO) Reaches New 52-Week High - Here's Why

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.94 and last traded at $41.55, with a volume of 3648 shares changing hands. The stock had previously closed at $41.73.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several research reports. UBS Group upped their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler upped their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Scotiabank raised their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, HC Wainwright boosted their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.67.

BridgeBio Pharma Price Performance

The firm's 50-day moving average price is $36.11 and its 200 day moving average price is $33.65. The firm has a market cap of $8.01 billion, a P/E ratio of -11.95 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The firm's revenue was down 44.8% compared to the same quarter last year. Analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 75,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the transaction, the chief executive officer now owns 4,948,447 shares of the company's stock, valued at approximately $182,449,240.89. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. Following the transaction, the director now owns 12,000 shares of the company's stock, valued at approximately $420,000. This represents a 45.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,396,474 shares of company stock worth $219,332,971. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of the company. Ironwood Investment Management LLC lifted its position in shares of BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC grew its position in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares in the last quarter. Xponance Inc. grew its position in BridgeBio Pharma by 3.8% during the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock worth $362,000 after buying an additional 385 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock valued at $404,000 after buying an additional 466 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after acquiring an additional 472 shares during the last quarter. 99.85% of the stock is currently 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.