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BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Citigroup Analyst Says

BridgeBio Pharma logo with Medical background

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) had its target price hoisted by equities researchers at Citigroup from $58.00 to $67.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 44.79% from the company's previous close.

BBIO has been the subject of a number of other reports. Scotiabank increased their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. UBS Group increased their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Oppenheimer raised BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Finally, HC Wainwright upped their target price on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and an average target price of $60.21.

View Our Latest Report on BBIO

BridgeBio Pharma Stock Up 0.0%

BBIO stock traded up $0.01 during midday trading on Friday, reaching $46.28. The company had a trading volume of 812,245 shares, compared to its average volume of 2,525,366. The stock has a 50 day moving average price of $38.53 and a 200 day moving average price of $35.13. BridgeBio Pharma has a fifty-two week low of $21.72 and a fifty-two week high of $46.80. The firm has a market capitalization of $8.79 billion, a PE ratio of -13.13 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same period last year, the company earned ($0.20) earnings per share. The business's quarterly revenue was down 44.8% compared to the same quarter last year. Research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $42.54, for a total transaction of $1,701,600.00. Following the completion of the sale, the chief executive officer owned 975,686 shares in the company, valued at approximately $41,505,682.44. This represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Mccormick sold 100,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total value of $4,423,000.00. Following the sale, the director owned 879,979 shares of the company's stock, valued at $38,921,471.17. This trade represents a 10.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,936,181 shares of company stock worth $375,878,164. 18.20% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently modified their holdings of the business. Diversified Trust Co increased its position in BridgeBio Pharma by 10.7% in the 2nd quarter. Diversified Trust Co now owns 38,605 shares of the company's stock worth $1,667,000 after purchasing an additional 3,739 shares during the last quarter. First Bank & Trust increased its position in BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company's stock worth $381,000 after purchasing an additional 329 shares during the last quarter. Rhumbline Advisers increased its position in BridgeBio Pharma by 0.5% in the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after purchasing an additional 1,008 shares during the last quarter. Strs Ohio acquired a new position in BridgeBio Pharma in the 1st quarter worth about $408,000. Finally, Wealth Management Associates Inc. increased its position in BridgeBio Pharma by 19.0% in the 1st quarter. Wealth Management Associates Inc. now owns 8,980 shares of the company's stock worth $310,000 after purchasing an additional 1,435 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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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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