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

BridgeBio Pharma (NASDAQ:BBIO) had its target price upped by investment analysts at Citigroup from $45.00 to $49.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 33.46% from the stock’s previous close.

Several other research analysts have also commented on the stock. Bank of America upped their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Scotiabank upped their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday. HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. Finally, Evercore ISI upped their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.10 during mid-day trading on Friday, hitting $36.71. The company had a trading volume of 1,046,942 shares, compared to its average volume of 2,885,434. The stock’s fifty day moving average price is $31.71 and its two-hundred day moving average price is $27.85. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47. The firm has a market cap of $6.94 billion, a PE ratio of -15.22 and a beta of 1.07.

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

Insider Activity

In other news, 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 sale, the chief financial officer now directly owns 102,464 shares of the company’s stock, valued at $3,705,098.24. This represents a 3.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock valued at $122,612,036 over the last ninety days. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. acquired a new position in shares of BridgeBio Pharma in the third quarter worth $1,286,000. First Turn Management LLC purchased a new stake in BridgeBio Pharma in the third quarter valued at $10,178,000. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Intech Investment Management LLC purchased a new stake in BridgeBio Pharma in the 3rd quarter valued at $1,136,000. Finally, Principal Financial Group Inc. boosted its stake in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares during the period. 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.