Wall Street Zen upgraded shares of BridgeBio Pharma (NASDAQ:BBIO - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.
Several other brokerages have also recently commented on BBIO. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. UBS Group lifted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. HC Wainwright boosted their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Piper Sandler boosted their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.36.
Read Our Latest Analysis on BBIO
BridgeBio Pharma Trading Up 2.7%
BBIO stock traded up $1.06 during midday trading on Friday, hitting $40.09. 2,708,755 shares of the company's stock were exchanged, compared to its average volume of 2,478,446. The firm has a 50 day moving average price of $34.76 and a 200-day moving average price of $32.87. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $40.72. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of -14.07 and a beta of 1.10.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The firm's quarterly revenue was down 44.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. On average, sell-side analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.
Insider Activity at BridgeBio Pharma
In other news, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the sale, the chief executive officer now directly owns 4,948,447 shares in the company, valued at $182,449,240.89. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,392,182 shares of company stock worth $219,161,291 in the last ninety days. 18.20% of the stock is owned by insiders.
Hedge Funds Weigh In On BridgeBio Pharma
A number of institutional investors and hedge funds have recently bought and sold shares of BBIO. GAMMA Investing LLC raised its position in shares of BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma in the 1st quarter worth approximately $35,000. Steward Partners Investment Advisory LLC raised its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Finally, Sterling Capital Management LLC lifted its stake in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors own 99.85% of the company's stock.
About BridgeBio Pharma
(
Get Free Report)
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.
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