BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped up before the market opened on Thursday . The stock had previously closed at $56.06, but opened at $57.77. BridgeBio Pharma shares last traded at $57.42, with a volume of 372 shares trading hands.
Several analysts have issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of BridgeBio Pharma in a research report on Monday, February 22nd. They set an “overweight” rating for the company. Zacks Investment Research upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Friday, January 29th. The Goldman Sachs Group increased their target price on shares of BridgeBio Pharma from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, March 22nd. Mizuho started coverage on shares of BridgeBio Pharma in a report on Saturday, March 20th. They set a “buy” rating and a $86.00 target price for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $79.00 target price on shares of BridgeBio Pharma in a report on Tuesday, March 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $73.40.
The company has a quick ratio of 9.85, a current ratio of 9.85 and a debt-to-equity ratio of 2.19. The company’s fifty day simple moving average is $64.92 and its 200 day simple moving average is $56.11. The firm has a market capitalization of $8.56 billion, a PE ratio of -16.44 and a beta of 0.82.
BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, February 24th. The company reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.15). The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $15.34 million. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.66 EPS for the current year.
In other news, major shareholder Genetic Disorder L.P. Kkr sold 3,450,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $60.47, for a total transaction of $208,621,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Randal W. Scott purchased 16,000 shares of the company’s stock in a transaction dated Wednesday, February 17th. The shares were acquired at an average price of $62.50 per share, for a total transaction of $1,000,000.00. Following the purchase, the director now directly owns 21,000 shares in the company, valued at $1,312,500. The disclosure for this purchase can be found here. 40.32% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Exane Derivatives purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $35,000. Strs Ohio lifted its stake in shares of BridgeBio Pharma by 10.4% during the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $198,000 after buying an additional 500 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $200,000. Penserra Capital Management LLC lifted its stake in shares of BridgeBio Pharma by 170.1% during the 4th quarter. Penserra Capital Management LLC now owns 2,825 shares of the company’s stock valued at $200,000 after buying an additional 1,779 shares in the last quarter. Finally, QS Investors LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $223,000. Institutional investors own 95.53% of the company’s stock.
About BridgeBio Pharma (NASDAQ:BBIO)
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 BBP-265, a small molecule stabilizer of transthyretin, or TTR, that is in an ongoing 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 an ongoing Phase 2 clinical trial for the treatment of achondroplasia in pediatric patients; an AAV5 gene transfer product candidate for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD; and Encaleret, a small molecule antagonist of the calcium sensing receptor, or CaSR, an ongoing phase 2 proof-of-concept clinical trial for Autosomal Dominant Hypocalcemia Type 1, or ADH1.
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