BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.50 Average Target Price from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $47.50.

BBIO has been the topic of a number of analyst reports. Piper Sandler initiated coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Leerink Partners decreased their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Evercore ISI decreased their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

BridgeBio Pharma Trading Down 1.4 %

Shares of BBIO opened at $23.84 on Wednesday. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32. The stock’s 50 day moving average is $26.11 and its two-hundred day moving average is $26.53. The firm has a market capitalization of $4.46 billion, a PE ratio of -7.40 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same period in the prior year, the firm posted ($0.98) EPS. BridgeBio Pharma’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, sell-side analysts predict that BridgeBio Pharma will post -2.56 EPS for the current year.

Insider Activity at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBIO. Janus Henderson Group PLC lifted its stake in shares of BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after purchasing an additional 2,169,143 shares during the period. Vanguard Group Inc. raised its position in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after buying an additional 1,524,313 shares during the period. Capital Research Global Investors raised its position in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after buying an additional 1,111,975 shares during the period. Ensign Peak Advisors Inc raised its position in shares of BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after buying an additional 506,845 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of BridgeBio Pharma by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after buying an additional 442,248 shares during the period. 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.