BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on BridgeBio Pharma, with 20 buy ratings, two holds and one sell among 23 analysts. The average 12-month price target is $100.79, implying potential upside from the $76.60 share price.
• BridgeBio reported quarterly revenue of $243.68 million, up 120.4% year over year, but its adjusted loss of $0.78 per share missed analyst expectations of a $0.58 loss.
• Insiders sold 387,343 shares worth approximately $30.3 million over the past 90 days, while institutional investors continue to own nearly all of the company, at 99.85% of outstanding shares.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $100.7895.

A number of equities research analysts have issued reports on BBIO shares. Wells Fargo & Company raised their target price on BridgeBio Pharma from $98.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Piper Sandler increased their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Mizuho dropped their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of BridgeBio Pharma from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group boosted their target price on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th.

BridgeBio Pharma Trading Down 2.6%

Shares of BridgeBio Pharma stock opened at $76.60 on Friday. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of -21.46 and a beta of 0.96. BridgeBio Pharma has a twelve month low of $48.78 and a twelve month high of $93.42. The business's 50 day simple moving average is $80.08 and its 200-day simple moving average is $73.55.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. BridgeBio Pharma's revenue for the quarter was up 120.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.95) EPS. Sell-side analysts predict that BridgeBio Pharma will post -2.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jennifer E. Cook sold 148,589 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the sale, the director directly owned 8,383 shares in the company, valued at $742,230.82. This trade represents a 94.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,808 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the transaction, the director directly owned 11,455 shares in the company, valued at $778,940. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 387,343 shares of company stock valued at $30,289,400. 14.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Silvant Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the second quarter worth about $28,000. Allworth Financial LP purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock worth $39,000 after purchasing an additional 372 shares during the period. Farther Finance Advisors LLC grew its position in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $41,000. Institutional investors own 99.85% of the company's stock.

About BridgeBio Pharma

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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