BridgeBio Pharma (NASDAQ:BBIO) Stock Price Up 4.7% – What’s Next?

by · The Markets Daily

BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report)’s share price rose 4.7% during trading on Thursday . The company traded as high as $24.61 and last traded at $24.47. Approximately 792,109 shares traded hands during trading, a decline of 58% from the average daily volume of 1,873,302 shares. The stock had previously closed at $23.38.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Oppenheimer initiated coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Piper Sandler initiated coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Bank of America restated a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $47.92.

View Our Latest Stock Analysis on BBIO

BridgeBio Pharma Stock Performance

The company has a market cap of $4.87 billion, a price-to-earnings ratio of -9.85 and a beta of 1.08. The company has a fifty day moving average of $25.95 and a two-hundred day moving average of $26.79.

BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last announced its 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 company had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.98) earnings per share. Equities analysts expect that BridgeBio Pharma, Inc. will post -2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. This trade represents a 0.00 % decrease in their position. The transaction 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 BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bfsg LLC raised its stake in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the period. Quarry LP purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth approximately $50,000. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma in the second quarter worth approximately $48,000. CWM LLC raised its stake in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma in the first quarter worth approximately $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

(Get Free Report)

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.

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