BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Has Consensus Price Target of $104.75

Key Points

• Analysts remain broadly bullish: BridgeBio Pharma has a “Moderate Buy” consensus from 24 analysts, with an average 12-month price target of $104.75 versus the stock’s quoted price of $66.39.
• Recent analyst updates raised targets, including UBS at $92, Piper Sandler at $115 and Mizuho at $110. However, the company missed quarterly EPS expectations, reporting a $0.78 loss per share versus the anticipated $0.58 loss, despite revenue rising 120.4% year over year to $243.68 million.
• Institutional ownership is substantial: Hedge funds and other institutions own 99.85% of shares, while insiders own 14.23%; insiders sold 56,980 shares worth approximately $4.58 million over the past three months under pre-arranged trading plans.

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-four research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $104.75.

BBIO has been the subject of several research analyst reports. UBS Group reiterated a "buy" rating and issued a $92.00 price objective (up from $82.00) on shares of BridgeBio Pharma in a research report on Thursday. Cantor Fitzgerald restated an "overweight" rating on shares of BridgeBio Pharma in a research report on Monday, October 5th. TD Cowen reaffirmed a "buy" rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Piper Sandler upped their price target on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Finally, Mizuho increased their price target on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, September 1st.

Insider Transactions at BridgeBio Pharma

In other 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 transaction of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at approximately $10,199,724.06. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the sale, the chief executive officer directly owned 495,686 shares in the company, valued at $34,241,988.88. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 56,980 shares of company stock worth $4,578,119. 14.23% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in BridgeBio Pharma during the second quarter worth $1,050,762,000. Janus Henderson Group PLC raised its stake in shares of BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock worth $978,608,000 after buying an additional 2,178,556 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth $145,663,000. Pictet Asset Management Holding SA boosted its position in shares of BridgeBio Pharma by 8.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,184 shares of the company's stock worth $101,495,000 after buying an additional 110,894 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of BridgeBio Pharma by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company's stock worth $98,797,000 after buying an additional 16,112 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Down 1.1%

NASDAQ BBIO opened at $66.39 on Friday. The business's 50 day moving average is $72.75 and its two-hundred day moving average is $73.32. BridgeBio Pharma has a 12-month low of $52.75 and a 12-month high of $93.42. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of -18.60 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. During the same period in the prior year, the company earned ($0.95) earnings per share. BridgeBio Pharma's revenue for the quarter was up 120.4% on a year-over-year basis. Equities analysts forecast that BridgeBio Pharma will post -2.63 earnings per share for the current fiscal year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company uses its drug discovery and development platform to advance therapies across areas including rare diseases, genetic disorders and precision oncology, with programs designed to address the underlying biological causes of disease.

BridgeBio operates through a collection of subsidiary companies and development programs. Its portfolio has included therapies for cardiovascular, endocrine, neurological and oncological conditions.

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