Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.82

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $47.82.

A number of equities analysts have recently issued reports on BBIO shares. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of BridgeBio Pharma in a report on Monday, March 4th. Citigroup raised their price target on BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Mizuho reduced their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, Raymond James began coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price on the stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $27.79 on Wednesday. The stock’s 50-day simple moving average is $28.30 and its 200-day simple moving average is $31.87. The firm has a market capitalization of $5.20 billion, a PE ratio of -8.63 and a beta of 1.08. BridgeBio Pharma has a fifty-two week low of $12.75 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.92) earnings per share. On average, sell-side analysts forecast that BridgeBio Pharma will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the sale, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 28.52% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its stake in BridgeBio Pharma by 4.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 24,750 shares of the company’s stock valued at $653,000 after acquiring an additional 1,000 shares during the last quarter. Strs Ohio purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $181,000. Emerald Advisers LLC raised its position in shares of BridgeBio Pharma by 44.8% during the 3rd quarter. Emerald Advisers LLC now owns 694,000 shares of the company’s stock worth $18,301,000 after purchasing an additional 214,875 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in BridgeBio Pharma by 26.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 500,254 shares of the company’s stock valued at $13,192,000 after buying an additional 104,714 shares in the last quarter. Finally, Assetmark Inc. acquired a new stake in BridgeBio Pharma during the 3rd quarter valued at $53,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.