BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) was upgraded by research analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.
Other analysts also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Truist Financial lifted their price target on BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Piper Sandler upped their price objective on BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group raised their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.75.
Get Our Latest Stock Analysis on BridgeBio Pharma
BridgeBio Pharma Stock Performance
Shares of BBIO traded down $0.74 during midday trading on Wednesday, hitting $66.39. 2,055,510 shares of the company traded hands, compared to its average volume of 2,982,958. The firm has a 50 day moving average of $72.75 and a 200-day moving average of $73.32. BridgeBio Pharma has a 52 week low of $52.75 and a 52 week high of $93.42. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of -18.60 and a beta of 0.97.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. During the same quarter last year, the firm posted ($0.95) earnings per share. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. Sell-side analysts predict that BridgeBio Pharma will post -2.63 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the sale, the chief accounting officer owned 127,401 shares in the company, valued at approximately $10,199,724.06. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.08, for a total transaction of $690,800.00. Following the transaction, the chief executive officer directly owned 495,686 shares of the company’s stock, valued at approximately $34,241,988.88. This represents a 1.98% decrease in their ownership of the stock. 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 56,980 shares of company stock valued at $4,578,119 in the last 90 days. Company insiders own 14.23% of the company’s stock.
Institutional Trading of BridgeBio Pharma
Several institutional investors have recently added to or reduced their stakes in BBIO. Jupiter Topco LLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $1,050,762,000. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after buying an additional 2,178,556 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of BridgeBio Pharma in the second quarter worth approximately $145,663,000. Pictet Asset Management Holding SA raised its holdings in shares of BridgeBio Pharma by 8.7% in the first quarter. Pictet Asset Management Holding SA now owns 1,381,184 shares of the company’s stock worth $101,495,000 after buying an additional 110,894 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of BridgeBio Pharma by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock worth $98,797,000 after acquiring an additional 16,112 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.
About BridgeBio Pharma
BridgeBio Pharma, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company uses its drug discovery and development platform to advance therapies across areas including rare diseases, genetic disorders and precision oncology, with programs designed to address the underlying biological causes of disease.
BridgeBio operates through a collection of subsidiary companies and development programs. Its portfolio has included therapies for cardiovascular, endocrine, neurological and oncological conditions.
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