BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Citigroup Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its price target raised by Citigroup from $45.00 to $49.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 33.46% from the company’s current price.

BBIO has been the subject of several other research reports. Evercore ISI lifted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Scotiabank boosted their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

BridgeBio Pharma Trading Down 0.3 %

Shares of BridgeBio Pharma stock traded down $0.10 during trading hours on Friday, reaching $36.71. The stock had a trading volume of 1,046,942 shares, compared to its average volume of 2,885,434. The firm has a 50 day simple moving average of $31.71 and a two-hundred day simple moving average of $27.85. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -15.22 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. Sell-side analysts forecast that BridgeBio Pharma will post -2.56 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares of the company’s stock, valued at approximately $3,705,098.24. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,496,239 shares of company stock valued at $122,612,036. 24.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares during the last quarter. Creative Planning acquired a new position in BridgeBio Pharma in the 3rd quarter worth $772,000. Allspring Global Investments Holdings LLC boosted its stake in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after buying an additional 801 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after buying an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.