Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $41.94 and last traded at $41.55, with a volume of 3648 shares traded. The stock had previously closed at $41.73.
Analysts Set New Price Targets
A number of research firms have recently weighed in on BBIO. UBS Group increased their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective on the stock. Wolfe Research initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective for the company. Piper Sandler boosted their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, HC Wainwright upped their price target on 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 issued a buy rating to the company's stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $57.42.
Read Our Latest Stock Analysis on BridgeBio Pharma
BridgeBio Pharma Stock Up 1.7%
The stock has a market cap of $8.57 billion, a price-to-earnings ratio of -12.78 and a beta of 1.10. The company's fifty day moving average is $36.67 and its two-hundred day moving average is $33.89.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. During the same period last year, the firm posted ($0.20) earnings per share. BridgeBio Pharma's revenue for the quarter was down 44.8% on a year-over-year basis. Sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.
Insider Activity
In other news, Director Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the sale, the director now owns 879,979 shares in the company, valued at approximately $38,921,471.17. The trade was a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm'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 transaction, the insider now owns 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,421,474 shares of company stock worth $220,990,721. 18.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On BridgeBio Pharma
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Rhumbline Advisers increased its holdings in shares of BridgeBio Pharma by 2.3% in the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company's stock valued at $6,013,000 after acquiring an additional 5,007 shares during the period. Handelsbanken Fonder AB grew its position in BridgeBio Pharma by 16.6% during the 4th quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company's stock worth $1,041,000 after purchasing an additional 5,400 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in BridgeBio Pharma by 95.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 25,980 shares of the company's stock worth $713,000 after purchasing an additional 12,701 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of BridgeBio Pharma by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after buying an additional 21,963 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.
About BridgeBio Pharma
(
Get Free Report)
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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