BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) has been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.63.
A number of research firms have weighed in on BBIO. Mizuho raised their target price on shares of BridgeBio Pharma from $23.00 to $29.00 in a research note on Monday, May 8th. Evercore ISI started coverage on BridgeBio Pharma in a research note on Wednesday, April 19th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, SVB Securities raised their target price on BridgeBio Pharma from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, April 13th.
BridgeBio Pharma Stock Performance
Shares of BBIO opened at $17.49 on Thursday. The stock has a 50 day moving average price of $15.02 and a 200 day moving average price of $13.01. BridgeBio Pharma has a one year low of $6.55 and a one year high of $19.94. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -6.16 and a beta of 0.79.
BridgeBio Pharma (NASDAQ:BBIO – Free Report) last released its earnings results on Thursday, May 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.09). The firm had revenue of $1.83 million for the quarter, compared to analyst estimates of $3.23 million. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned ($1.35) earnings per share. On average, analysts predict that BridgeBio Pharma will post -3.39 earnings per share for the current year.
Insider Activity
In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 24,424 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $14.01, for a total transaction of $342,180.24. Following the completion of the transaction, the chief financial officer now owns 36,408 shares of the company’s stock, valued at $510,076.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Brian C. Stephenson sold 24,424 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total transaction of $342,180.24. Following the completion of the transaction, the chief financial officer now directly owns 36,408 shares in the company, valued at $510,076.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil Kumar sold 51,552 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $14.01, for a total value of $722,243.52. Following the completion of the sale, the chief executive officer now owns 4,813,197 shares in the company, valued at approximately $67,432,889.97. The disclosure for this sale can be found here. Corporate insiders own 28.52% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BBIO. Duality Advisers LP purchased a new position in BridgeBio Pharma in the 1st quarter valued at approximately $696,000. Putnam Investments LLC boosted its holdings in BridgeBio Pharma by 38.4% in the first quarter. Putnam Investments LLC now owns 48,114 shares of the company’s stock valued at $798,000 after purchasing an additional 13,352 shares during the period. Rockefeller Capital Management L.P. grew its stake in BridgeBio Pharma by 8.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 49,202 shares of the company’s stock worth $815,000 after purchasing an additional 3,885 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in BridgeBio Pharma during the 1st quarter worth about $1,199,000. Finally, Perceptive Advisors LLC raised its position in BridgeBio Pharma by 12.4% in the 1st quarter. Perceptive Advisors LLC now owns 1,907,033 shares of the company’s stock valued at $31,619,000 after purchasing an additional 210,000 shares in the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.
BridgeBio Pharma Company Profile
BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.
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