BridgeBio Pharma (NASDAQ:BBIO) Coverage Initiated at Piper Sandler

Piper Sandler initiated coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $46.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. HC Wainwright reissued a buy rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Tuesday, September 3rd. UBS Group decreased their price target on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a report on Tuesday, May 28th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, July 1st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Trading Down 1.9 %

Shares of BridgeBio Pharma stock opened at $30.70 on Wednesday. The stock has a 50-day moving average price of $26.18 and a 200 day moving average price of $27.63. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The company has a market cap of $5.74 billion, a P/E ratio of -9.53 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period in the prior year, the firm earned ($0.98) EPS. BridgeBio Pharma’s quarterly revenue was up 32.1% on a year-over-year basis. On average, equities analysts forecast that BridgeBio Pharma will post -2.46 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the period. Frazier Life Sciences Management L.P. lifted its stake in BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after purchasing an additional 217,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares in the last quarter. Capital Research Global Investors grew its stake in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after buying an additional 1,111,975 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after acquiring an additional 506,845 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.