UBS Group Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO - Free Report) had its price target upped by UBS Group from $65.00 to $72.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a report on Friday, February 21st. Citigroup upped their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. HC Wainwright raised their target price on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Finally, Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.09.

BridgeBio Pharma Stock Down 1.8 %

NASDAQ:BBIO traded down $0.68 on Wednesday, reaching $37.89. 942,112 shares of the company's stock traded hands, compared to its average volume of 2,347,041. The stock has a 50-day simple moving average of $34.06 and a 200-day simple moving average of $30.91. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.54. The firm has a market cap of $7.19 billion, a PE ratio of -13.31 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) 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 analysts' expectations of $57.14 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The firm's revenue for the quarter was down 44.8% on a year-over-year basis. On average, equities analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 31,543 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the transaction, the chief executive officer now owns 211,718 shares of the company's stock, valued at approximately $7,651,488.52. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now directly owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,309,191 shares of company stock worth $208,544,821. Insiders own 24.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of BridgeBio Pharma by 22.8% during the first quarter. Victory Capital Management Inc. now owns 79,851 shares of the company's stock worth $2,760,000 after acquiring an additional 14,825 shares during the period. CWM LLC increased its holdings in BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after purchasing an additional 598 shares during the period. Caas Capital Management LP bought a new stake in BridgeBio Pharma during the 1st quarter valued at $297,000. Xponance Inc. raised its holdings in shares of BridgeBio Pharma by 3.8% in the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after acquiring an additional 385 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in BridgeBio Pharma in the first quarter worth about $229,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

About BridgeBio Pharma

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.