Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $95.2105.
A number of equities research analysts have recently weighed in on BBIO shares. Truist Financial lifted their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Canaccord Genuity Group began coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price target on the stock. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price on the stock.
Get Our Latest Stock Analysis on BBIO
BridgeBio Pharma Stock Down 2.9%
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. The company’s revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.88) earnings per share. Equities research analysts expect that BridgeBio Pharma will post -2.29 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director directly owned 8,383 shares in the company, valued at approximately $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00. Following the transaction, the chief executive officer owned 535,686 shares in the company, valued at approximately $36,137,377.56. This trade represents a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 432,117 shares of company stock valued at $32,633,740 in the last quarter. Company insiders own 14.23% of the company’s stock.
Institutional Trading of BridgeBio Pharma
Several large investors have recently modified their holdings of the stock. First Bank & Trust raised its stake in BridgeBio Pharma by 1.6% in the second quarter. First Bank & Trust now owns 8,797 shares of the company’s stock valued at $655,000 after purchasing an additional 142 shares in the last quarter. GAMMA Investing LLC grew its stake in BridgeBio Pharma by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,646 shares of the company’s stock worth $123,000 after buying an additional 199 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in BridgeBio Pharma in the 2nd quarter valued at about $137,000. Parallel Advisors LLC increased its holdings in BridgeBio Pharma by 552.6% in the 1st quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock valued at $66,000 after buying an additional 757 shares during the period. Finally, Avidity Partners Management LP acquired a new position in shares of BridgeBio Pharma in the 1st quarter valued at approximately $711,000. 99.85% of the stock is owned by institutional investors and hedge funds.
About BridgeBio Pharma
BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.
BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.
Featured Articles
- Five stocks we like better than BridgeBio Pharma
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for BridgeBio Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BridgeBio Pharma and related companies with MarketBeat.com's FREE daily email newsletter.
