BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Recommendation of “Moderate Buy” by Analysts
by Danessa Lincoln · The Markets DailyBridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and twenty-three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $86.75.
BBIO has been the topic of a number of analyst reports. William Blair assumed coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Morgan Stanley boosted their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Mizuho upped their price objective on BridgeBio Pharma from $91.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Wells Fargo & Company increased their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Finally, Oppenheimer decreased their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th.
Get Our Latest Stock Analysis on BBIO
Insider Buying and Selling
In related news, Director Andrea Ellis sold 64,921 shares of BridgeBio Pharma stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the sale, the director owned 18,589 shares in the company, valued at $1,205,868.43. This trade represents a 77.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Trimarchi sold 13,600 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the sale, the chief financial officer directly owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 237,084 shares of company stock worth $16,608,419 over the last ninety days. 18.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklands Fund Management Ltd bought a new stake in BridgeBio Pharma during the 4th quarter valued at $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after buying an additional 2,261,181 shares during the period. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after acquiring an additional 2,259,378 shares in the last quarter. Norges Bank bought a new stake in shares of BridgeBio Pharma in the second quarter valued at about $84,488,000. Finally, Wellington Management Group LLP lifted its stake in BridgeBio Pharma by 130.4% in the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after acquiring an additional 1,329,537 shares during the period. Institutional investors own 99.85% of the company’s stock.
BridgeBio Pharma Stock Performance
BridgeBio Pharma stock opened at $73.15 on Wednesday. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $84.94. The firm has a 50-day moving average price of $71.34 and a 200-day moving average price of $68.19. The firm has a market capitalization of $14.18 billion, a PE ratio of -19.35 and a beta of 1.09.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to the consensus estimate of $150.71 million. The company’s revenue was up 2521.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.40) EPS. As a group, sell-side analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.
BridgeBio Pharma Company Profile
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.