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

Key Points

• HC Wainwright raised its price target on BridgeBio Pharma to $110 from $100 and maintained a buy rating, implying about 63% upside from the current share price.
• The broader analyst view remains positive: 24 analysts rate the stock Buy, with a consensus rating of Moderate Buy and an average target price of $88.19.
• BridgeBio recently reported better-than-expected revenue of $194.52 million, up 66.8% year over year, but EPS missed estimates at -$0.84 versus -$0.70 expected.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) had its price target upped by equities research analysts at HC Wainwright from $100.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 63.23% from the company's current price.

Other research analysts have also issued research reports about the company. Leerink Partners reaffirmed an "outperform" rating and set a $98.00 price target on shares of BridgeBio Pharma in a research report on Thursday, March 12th. William Blair began coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They set an "outperform" rating for the company. Mizuho reaffirmed an "outperform" rating and set a $106.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. TD Cowen reaffirmed a "buy" rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Finally, Oppenheimer lowered their price target on BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Twenty-four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.19.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $67.39 on Monday. BridgeBio Pharma has a 1-year low of $31.77 and a 1-year high of $84.94. The stock has a 50-day moving average of $71.27 and a 200-day moving average of $71.32. The firm has a market cap of $13.20 billion, a PE ratio of -18.02 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the business posted ($0.88) earnings per share. The company's revenue was up 66.8% compared to the same quarter last year. As a group, equities research analysts forecast that BridgeBio Pharma will post -2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the transaction, the director directly owned 11,589 shares of the company's stock, valued at approximately $874,505.94. This represents a 46.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00. Following the completion of the transaction, the chief executive officer directly owned 615,686 shares in the company, valued at $45,942,489.32. This trade represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 239,084 shares of company stock worth $16,777,579 over the last three months. Corporate insiders own 14.23% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after buying an additional 372 shares during the period. Farther Finance Advisors LLC grew its position in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $41,000. Cary Street Partners Investment Advisory LLC grew its position in shares of BridgeBio Pharma by 861.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock valued at $43,000 after purchasing an additional 508 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $44,000. 99.85% of the stock is owned by institutional investors.

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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