BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $53.00.

A number of equities research analysts recently weighed in on the stock. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a “buy” rating and a $50.00 target price on the stock. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Citigroup lifted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

BridgeBio Pharma Stock Down 1.8 %

NASDAQ BBIO opened at $34.24 on Wednesday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $39.47. The business has a 50 day moving average price of $33.65 and a 200-day moving average price of $29.93. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -12.01 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $408,600. The trade was a 71.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,684,739 shares of company stock worth $326,958,651. 24.66% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its holdings in BridgeBio Pharma by 4,544.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company’s stock valued at $38,751,000 after acquiring an additional 1,096,799 shares during the period. GAMMA Investing LLC grew its position in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of BridgeBio Pharma by 113.8% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 16,202 shares of the company’s stock valued at $560,000 after purchasing an additional 8,625 shares during the period. Rhumbline Advisers lifted its holdings in BridgeBio Pharma by 0.5% during the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company’s stock worth $7,610,000 after purchasing an additional 1,008 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in BridgeBio Pharma by 6.8% during the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock worth $3,174,000 after purchasing an additional 7,388 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.