BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Monday morning, Benzinga reports. The firm currently has a $43.00 price objective on the stock.

BBIO has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Bank of America reiterated a buy rating and set a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Evercore ISI dropped their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Piper Sandler began coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an overweight rating and a $46.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Down 2.9 %

NASDAQ BBIO opened at $25.96 on Monday. The business has a 50 day moving average price of $26.51 and a 200-day moving average price of $27.23. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market cap of $4.86 billion, a price-to-earnings ratio of -8.06 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the business posted ($0.98) earnings per share. On average, equities research analysts anticipate that BridgeBio Pharma will post -2.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. YHB Investment Advisors Inc. bought a new position in BridgeBio Pharma in the 1st quarter worth approximately $34,000. Bfsg LLC lifted its position in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares in the last quarter. Quarry LP bought a new position in shares of BridgeBio Pharma in the fourth quarter worth $50,000. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma in the second quarter worth $48,000. Finally, Assetmark Inc. grew its position in shares of BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after purchasing an additional 935 shares in the last quarter. Institutional investors 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.