BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) had its target price upped by stock analysts at HC Wainwright from $100.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 63.23% from the company’s current price.
A number of other brokerages also recently commented on BBIO. Oppenheimer lowered their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price for the company. Mizuho restated an “outperform” rating and set a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Finally, TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Twenty-four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.19.
Read Our Latest Analysis on BBIO
BridgeBio Pharma Stock Performance
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. The company’s revenue was up 66.8% compared to the same quarter last year. As a group, equities analysts forecast that BridgeBio Pharma will post -2.05 EPS for the current year.
Insider Buying and Selling
In other news, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the transaction, the director directly owned 18,589 shares of the company’s stock, valued at approximately $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total value of $143,160.00. Following the transaction, the chief accounting officer directly owned 134,115 shares in the company, valued at approximately $9,599,951.70. The trade was a 1.47% 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 have sold a total of 239,084 shares of company stock valued at $16,777,579 over the last ninety days. Company insiders own 14.23% of the company’s stock.
Hedge Funds Weigh In On BridgeBio Pharma
A number of large investors have recently made changes to their positions in BBIO. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the first quarter worth $35,000. First Trust Advisors LP increased its position in shares of BridgeBio Pharma by 200.4% during the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after purchasing an additional 175,918 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of BridgeBio Pharma by 1.8% during the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after purchasing an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of BridgeBio Pharma during the second quarter worth $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BridgeBio Pharma by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after acquiring an additional 2,206 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.
BridgeBio Pharma Company Profile
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.
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