BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $47.82.

Several equities analysts recently commented on BBIO shares. Citigroup increased their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research report on Monday, March 4th. Finally, Mizuho decreased their price objective on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th.

BridgeBio Pharma Stock Performance

BBIO stock opened at $25.62 on Wednesday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of -6.50 and a beta of 1.03. The firm has a 50-day simple moving average of $28.98 and a two-hundred day simple moving average of $31.80. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. The business’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted ($0.92) earnings per share. As a group, equities analysts predict that BridgeBio Pharma will post -3.09 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.52% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in BridgeBio Pharma by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock valued at $663,000 after acquiring an additional 386 shares during the period. Diversified Trust Co raised its holdings in shares of BridgeBio Pharma by 2.5% during the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock worth $451,000 after acquiring an additional 411 shares during the period. Amalgamated Bank raised its holdings in BridgeBio Pharma by 3.8% in the 3rd quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock valued at $416,000 after buying an additional 576 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in BridgeBio Pharma by 4.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock valued at $403,000 after buying an additional 720 shares during the period. Finally, Parkman Healthcare Partners LLC grew its position in BridgeBio Pharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after acquiring an additional 734 shares in the last quarter. 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.