BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Up to $26.19

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped up before the market opened on Tuesday . The stock had previously closed at $26.19, but opened at $26.95. BridgeBio Pharma shares last traded at $27.31, with a volume of 289,857 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Bank of America reiterated a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. HC Wainwright restated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Monday. Evercore ISI dropped their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Trading Up 2.3 %

The firm has a market cap of $5.01 billion, a P/E ratio of -8.56 and a beta of 1.07. The business’s fifty day moving average price is $26.50 and its two-hundred day moving average price is $27.30.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. BridgeBio Pharma’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. Research analysts predict that BridgeBio Pharma, Inc. will post -2.49 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brian C. Stephenson sold 4,155 shares of the company’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 $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. Vanguard Personalized Indexing Management LLC bought a new position in BridgeBio Pharma during the 4th quarter valued at about $300,000. Norges Bank acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $46,843,000. UBS Group AG raised its stake 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 acquiring an additional 832,940 shares during the last quarter. Assetmark Inc. grew its position in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after acquiring an additional 935 shares during the last quarter. Finally, Commerce Bank acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $244,000. Institutional investors and hedge funds 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.