BridgeBio Pharma (NASDAQ:BBIO) Shares Up 7.1%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares shot up 7.1% during mid-day trading on Thursday . The company traded as high as $25.24 and last traded at $25.23. 2,014,737 shares were traded during trading, an increase of 9% from the average session volume of 1,841,871 shares. The stock had previously closed at $23.56.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, May 28th. Mizuho dropped their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. UBS Group reduced their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Thursday, June 20th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $47.21.

BridgeBio Pharma Stock Up 0.5 %

The company’s 50-day moving average is $27.38 and its 200-day moving average is $31.59. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -7.87 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently added to or reduced their stakes in BBIO. Rhumbline Advisers lifted its position in shares of BridgeBio Pharma by 1.1% during the third quarter. Rhumbline Advisers now owns 179,759 shares of the company’s stock worth $4,740,000 after purchasing an additional 1,924 shares in the last quarter. Northern Trust Corp increased its position in shares of BridgeBio Pharma by 2.2% during the third quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock worth $30,429,000 after acquiring an additional 24,643 shares during the period. Caxton Associates LP acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at $207,000. Fred Alger Management LLC purchased a new position in BridgeBio Pharma in the third quarter valued at $3,471,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in BridgeBio Pharma during the 3rd quarter worth $4,407,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.