Key Points
- BridgeBio Pharma CFO Thomas Trimarchi sold 13,651 shares on May 18 at an average price of $65.08, totaling about $888,407. The sale was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell by 3.66% to 359,194 shares.
- The company recently reported quarterly earnings of -$0.84 per share, missing estimates, but revenue came in at $194.52 million, above expectations and up 66.8% year over year.
- Wall Street remains broadly upbeat on BBIO, with 23 Buy ratings and a consensus price target of $88.90; several firms, including Mizuho and Morgan Stanley, recently reiterated or raised positive targets.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Randal Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director directly owned 11,589 shares of the company's stock, valued at $778,201.35. This represents a 46.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BridgeBio Pharma Trading Up 1.0%
BBIO opened at $66.00 on Wednesday. BridgeBio Pharma, Inc. has a 1-year low of $31.77 and a 1-year high of $84.94. The company has a market cap of $12.93 billion, a P/E ratio of -17.65 and a beta of 1.02. The company has a fifty day moving average price of $71.37 and a two-hundred day moving average price of $71.79.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to analysts' expectations of $178.07 million. During the same period in the prior year, the business posted ($0.88) earnings per share. The company's quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on BBIO. Mizuho reaffirmed an "outperform" rating and issued a $106.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. HC Wainwright lifted their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Raymond James Financial set a $89.00 price target on shares of BridgeBio Pharma and gave the company an "outperform" rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BridgeBio Pharma in a research note on Friday. Finally, Barclays reaffirmed an "overweight" rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Twenty-three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.90.
Get Our Latest Stock Analysis on BBIO
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of BridgeBio Pharma during the third quarter valued at about $31,000. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the third quarter valued at about $34,000. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the first quarter valued at about $35,000. Huntington National Bank grew its holdings in shares of BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company's stock valued at $39,000 after buying an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after buying an additional 245 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.
BridgeBio Pharma Company Profile
(
Get Free Report)
BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.
BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.
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