UBS Group Boosts BridgeBio Pharma (NASDAQ:BBIO) Price Target to $72.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective upped by analysts at UBS Group from $65.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 87.50% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Redburn Atlantic assumed coverage on BridgeBio Pharma in a report on Monday, March 31st. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright upped their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Scotiabank upped their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.09.

BridgeBio Pharma Stock Up 0.1 %

BBIO opened at $38.40 on Wednesday. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -13.47 and a beta of 1.08. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.54. The business has a 50 day moving average of $33.97 and a 200-day moving average of $30.75.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The company’s revenue for the quarter was down 44.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. As a group, analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $408,600. This trade represents a 71.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,309,191 shares of company stock valued at $208,544,821. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of BridgeBio Pharma by 31.9% during the third quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after buying an additional 131,743 shares during the last quarter. Exome Asset Management LLC boosted its holdings in shares of BridgeBio Pharma by 167.4% during the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after acquiring an additional 132,093 shares in the last quarter. Principal Financial Group Inc. grew its position in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after acquiring an additional 19,978 shares during the last quarter. Avanza Fonder AB bought a new stake in BridgeBio Pharma during the 4th quarter worth $181,000. Finally, Moss Adams Wealth Advisors LLC bought a new position in BridgeBio Pharma in the fourth quarter valued at about $208,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.