BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.92 Average PT from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.92.

Several brokerages have recently commented on BBIO. HC Wainwright reiterated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Monday. Bank of America reiterated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. JPMorgan Chase & Co. decreased their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently added to or reduced their stakes in BBIO. Vanguard Group Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of BridgeBio Pharma by 6.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock valued at $92,014,000 after purchasing an additional 217,000 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in shares of BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after purchasing an additional 506,845 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $25.08 on Friday. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The company has a 50 day moving average of $26.14 and a 200-day moving average of $26.97. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -7.79 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma will post -2.54 earnings per share for the current year.

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.