Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $52.20

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.90.

BBIO has been the topic of a number of research reports. 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. Citigroup upped their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, March 24th. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 9,654,739 shares of company stock valued at $325,937,151 over the last quarter. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after buying an additional 89,521 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of BridgeBio Pharma by 140.1% during the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after buying an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after buying an additional 40,000 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock valued at $96,774,000 after acquiring an additional 912,439 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 3.5 %

Shares of NASDAQ BBIO opened at $35.11 on Friday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47. The stock has a 50 day moving average of $34.26 and a 200-day moving average of $29.29. The company has a market capitalization of $6.68 billion, a P/E ratio of -12.32 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. Analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

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.