BridgeBio Pharma (NASDAQ:BBIO) Sets New 12-Month High – Should You Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares reached a new 52-week high on Thursday . The company traded as high as $39.47 and last traded at $38.04, with a volume of 636210 shares trading hands. The stock had previously closed at $36.29.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BBIO shares. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Bank of America raised their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI boosted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Scotiabank lifted their price objective on BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

BridgeBio Pharma Stock Up 2.9 %

The business’s 50-day moving average price is $31.53 and its 200 day moving average price is $27.79. The company has a market capitalization of $7.06 billion, a P/E ratio of -15.41 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). Analysts anticipate that BridgeBio Pharma, Inc. will post -2.56 EPS for the current fiscal year.

Insider Activity

In related news, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,496,239 shares of company stock worth $122,612,036. 24.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma in the 4th quarter worth $109,000. Frazier Life Sciences Management L.P. increased its holdings in shares of BridgeBio Pharma by 1.1% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after buying an additional 40,000 shares during the period. Woodline Partners LP lifted its stake in shares of BridgeBio Pharma by 132.9% in the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company’s stock valued at $60,684,000 after acquiring an additional 1,261,772 shares during the last quarter. Zimmer Partners LP purchased a new stake in BridgeBio Pharma during the 4th quarter valued at about $4,950,000. Finally, Tema Etfs LLC bought a new position in BridgeBio Pharma during the 4th quarter worth approximately $3,896,000. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.