Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.21

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $48.73.

Several equities analysts recently issued reports on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, July 1st. Bank of America reduced their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a report on Thursday, June 20th. Evercore ISI started coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, UBS Group reduced their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th.

BridgeBio Pharma Price Performance

BBIO opened at $26.19 on Monday. The business has a 50 day simple moving average of $27.29 and a 200-day simple moving average of $30.12. The stock has a market capitalization of $4.90 billion, a P/E ratio of -8.13 and a beta of 1.06. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. Research analysts anticipate that BridgeBio Pharma will post -3.2 EPS for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at $158,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares during the period. UBS Group AG grew its position in shares of BridgeBio Pharma by 545.9% in the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after purchasing an additional 832,940 shares during the period. Vanguard Group Inc. grew its position in shares of BridgeBio Pharma by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at $7,474,000. Finally, Virtu Financial LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at $245,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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.