BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus: Twenty of 23 analysts rate BridgeBio Pharma as a buy, with an average 12-month price target of $102.61 versus the reported share price of $69.23.
• Quarterly results were mixed: BridgeBio reported revenue of $243.68 million, up 120.4% year over year and above estimates, but its loss of $0.78 per share was wider than analysts’ expected loss of $0.58.
• Insider selling continued while institutional ownership remained high: Insiders sold 222,736 shares worth about $19.2 million over the past three months, while hedge funds and other institutions owned 99.85% of the company.

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $102.6111.

A number of research firms have recently issued reports on BBIO. HC Wainwright restated a "buy" rating and issued a $120.00 price target on shares of BridgeBio Pharma in a research report on Thursday, September 10th. Raymond James Financial lowered BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 26th. Weiss Ratings upgraded BridgeBio Pharma from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating on shares of BridgeBio Pharma in a research note on Wednesday, September 2nd.

BridgeBio Pharma Stock Up 4.0%

Shares of NASDAQ:BBIO opened at $69.23 on Wednesday. The business has a fifty day simple moving average of $78.68 and a 200 day simple moving average of $73.80. The firm has a market cap of $13.53 billion, a P/E ratio of -19.39 and a beta of 0.97. BridgeBio Pharma has a 12-month low of $48.78 and a 12-month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued 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 business had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. The company's revenue for the quarter was up 120.4% on a year-over-year basis. As a group, equities research analysts expect that BridgeBio Pharma will post -2.65 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the transaction, the chief accounting officer owned 127,401 shares in the company, valued at approximately $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $69.08, for a total transaction of $690,800.00. Following the sale, the chief executive officer owned 495,686 shares in the company, valued at approximately $34,241,988.88. This trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 222,736 shares of company stock valued at $19,176,217. Corporate insiders own 14.23% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Silvant Capital Management LLC acquired a new stake in shares of BridgeBio Pharma during the second quarter worth $28,000. Allworth Financial LP acquired a new position in BridgeBio Pharma in the 2nd quarter valued at $31,000. Cary Street Partners Investment Advisory LLC increased its stake in BridgeBio Pharma by 861.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock valued at $43,000 after buying an additional 508 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at about $44,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio's research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.

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