BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Recommendation of “Buy” by Brokerages

Posted by Defense World Staff on May 17th, 2023

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Rating) have been given an average rating of “Buy” by the ten analysts that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.63.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Bank of America raised their price objective on shares of BridgeBio Pharma from $15.00 to $18.00 in a research report on Tuesday, March 7th. Mizuho raised their price objective on shares of BridgeBio Pharma from $23.00 to $29.00 in a research report on Monday, May 8th. SVB Leerink lowered their price objective on shares of BridgeBio Pharma from $23.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, January 23rd. Finally, SVB Securities raised their target price on shares of BridgeBio Pharma from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, April 13th.

Insider Activity

In related news, CFO Brian C. Stephenson sold 62,692 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $10.96, for a total transaction of $687,104.32. Following the transaction, the chief financial officer now owns 156,837 shares of the company’s stock, valued at approximately $1,718,933.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brian C. Stephenson sold 17,717 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $12.70, for a total transaction of $225,005.90. Following the transaction, the chief financial officer now owns 219,529 shares of the company’s stock, valued at approximately $2,788,018.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 62,692 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $10.96, for a total transaction of $687,104.32. Following the transaction, the chief financial officer now directly owns 156,837 shares in the company, valued at approximately $1,718,933.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 420,707 shares of company stock valued at $5,508,920. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Pictet Asset Management SA lifted its stake in BridgeBio Pharma by 38.1% in the third quarter. Pictet Asset Management SA now owns 398,765 shares of the company’s stock valued at $3,964,000 after buying an additional 110,107 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of BridgeBio Pharma by 230.7% in the third quarter. Renaissance Technologies LLC now owns 1,366,746 shares of the company’s stock valued at $13,585,000 after purchasing an additional 953,500 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at approximately $899,000. Bridgefront Capital LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at approximately $122,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of BridgeBio Pharma by 1,501.5% in the third quarter. Daiwa Securities Group Inc. now owns 8,808 shares of the company’s stock valued at $88,000 after purchasing an additional 8,258 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.

BridgeBio Pharma Stock Down 5.1 %

Shares of BridgeBio Pharma stock opened at $14.09 on Wednesday. The stock has a market capitalization of $2.26 billion, a P/E ratio of -4.96 and a beta of 0.71. The company has a 50-day simple moving average of $14.81 and a 200 day simple moving average of $11.51. BridgeBio Pharma has a 12-month low of $5.74 and a 12-month high of $19.94.

BridgeBio Pharma (NASDAQ:BBIO – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The business had revenue of $1.83 million for the quarter, compared to analysts’ expectations of $3.23 million. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.35) EPS. On average, equities analysts anticipate that BridgeBio Pharma will post -3.13 earnings per share for the current year.

BridgeBio Pharma Company Profile

(Get Rating)

BridgeBio Pharma, Inc engages in identifying and advancing transformative medicines to treat patients who suffer from Mendelian diseases. Its pipeline of development programs includes product candidates ranging from early discovery to late-stage development. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly, and Neil Kumar in 2015 and is headquartered in Palo Alto, CA.