Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $52.20

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $52.90.

BBIO has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $37.22 on Friday. The stock has a market cap of $7.08 billion, a PE ratio of -13.06 and a beta of 1.07. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The stock’s 50-day moving average is $34.15 and its two-hundred day moving average is $29.12.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations 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 other news, CFO Brian C. Stephenson sold 68,000 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 $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares in the company, 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. Insiders have sold 9,579,739 shares of company stock worth $323,171,901 over the last three months. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently bought and sold shares of BBIO. Vanguard Group Inc. raised its stake in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after acquiring an additional 879,059 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after buying an additional 912,439 shares during the last quarter. Institutional investors and hedge funds 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.