Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $51.67

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given an average rating of “Moderate Buy” by the thirteen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $51.67.

Several research analysts have weighed in on the company. Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Citigroup upped their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

BridgeBio Pharma Price Performance

BBIO stock opened at $33.01 on Tuesday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.47. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -11.58 and a beta of 1.07. The business has a 50 day simple moving average of $32.79 and a two-hundred day simple moving average of $28.40.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Sell-side analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the sale, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,579,739 shares of company stock worth $125,411,901. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma in the 4th quarter valued at $41,000. Sterling Capital Management LLC grew its position in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after acquiring an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma in the 4th quarter valued at $109,000. Finally, Advisors Asset Management Inc. grew its position in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.