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

by · The Markets Daily

BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and twenty-one have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $77.6316.

BBIO has been the subject of several research reports. Leerink Partners lifted their price target on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Cowen reissued a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Finally, Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th.

Get Our Latest Stock Analysis on BBIO

Insiders Place Their Bets

In related news, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the sale, the chief accounting officer directly owned 130,297 shares in the company, valued at approximately $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.65, for a total value of $666,500.00. Following the transaction, the director owned 11,589 shares in the company, valued at approximately $772,406.85. This trade represents a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 587,215 shares of company stock valued at $38,801,501 in the last quarter. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Norges Bank bought a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $84,488,000. Driehaus Capital Management LLC bought a new position in BridgeBio Pharma in the first quarter valued at approximately $51,874,000. Invesco Ltd. raised its position in BridgeBio Pharma by 40.3% during the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in BridgeBio Pharma during the third quarter worth $50,956,000. Finally, Wellington Management Group LLP boosted its holdings in shares of BridgeBio Pharma by 1,698.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after purchasing an additional 962,525 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $75.80 on Monday. BridgeBio Pharma has a 52 week low of $27.23 and a 52 week high of $78.44. The company has a market capitalization of $14.61 billion, a price-to-earnings ratio of -18.13 and a beta of 1.26. The company has a 50-day simple moving average of $68.21 and a 200 day simple moving average of $55.32.

BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the previous year, the business earned ($0.86) EPS. The firm’s revenue was up 4318.0% on a year-over-year basis. Sell-side analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

About BridgeBio Pharma

(Get Free Report)

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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