BridgeBio Pharma (NASDAQ:BBIO – Free Report) had its price objective increased by Canaccord Genuity Group from $106.00 to $108.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.
Other analysts have also recently issued research reports about the stock. Truist Financial increased their price target on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. UBS Group restated a “buy” rating on shares of BridgeBio Pharma in a report on Friday, October 30th. Citigroup dropped their price objective on shares of BridgeBio Pharma from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Piper Sandler upped their target price on shares of BridgeBio Pharma from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Finally, HC Wainwright reiterated a “buy” rating on shares of BridgeBio Pharma in a report on Tuesday, October 6th. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.26.
Get Our Latest Research Report on BridgeBio Pharma
BridgeBio Pharma Price Performance
BBIO opened at $77.89 on Monday. The stock’s 50-day moving average price is $69.95 and its 200 day moving average price is $72.81. BridgeBio Pharma has a 12-month low of $60.55 and a 12-month high of $93.42.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to analyst estimates of $293.47 million. The business’s revenue was up 192.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.95) earnings per share. Analysts expect that BridgeBio Pharma will post -2.59 earnings per share for the current fiscal year.
Insider Buying and Selling at BridgeBio Pharma
In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total value of $145,700.00. Following the sale, the chief accounting officer owned 120,687 shares of the company’s stock, valued at $8,792,047.95. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 34,980 shares of BridgeBio Pharma stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the transaction, the chief executive officer owned 243,327 shares of the company’s stock, valued at $20,081,777.31. The trade was a 12.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,980 shares of company stock valued at $4,563,699 over the last three months. 14.23% of the stock is currently owned by insiders.
Hedge Funds Weigh In On BridgeBio Pharma
A number of institutional investors and hedge funds have recently made changes to their positions in BBIO. Silvant Capital Management LLC acquired a new position in BridgeBio Pharma during the 2nd quarter worth approximately $28,000. Allworth Financial LP purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its holdings in shares of BridgeBio Pharma by 55.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock valued at $29,000 after purchasing an additional 157 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at $44,000. 99.85% of the stock is owned by institutional investors and hedge funds.
About BridgeBio Pharma
BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.
BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.
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