BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an overweight rating and a $46.00 target price for the company. HC Wainwright reiterated a buy rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Monday. JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. UBS Group cut their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a report on Tuesday, May 28th. Finally, Evercore ISI decreased their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $47.92.

BridgeBio Pharma Stock Up 3.4 %

Shares of BBIO stock opened at $26.83 on Monday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of -8.33 and a beta of 1.07. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $44.32. The company’s 50 day moving average is $26.51 and its 200 day moving average is $27.23.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.98) earnings per share. Analysts anticipate that BridgeBio Pharma will post -2.49 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’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 transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock worth $150,128,821 over the last quarter. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently made changes to their positions in BBIO. Bfsg LLC increased its holdings in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma in the 1st quarter valued at $34,000. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma during the second quarter worth about $48,000. Quarry LP acquired a new stake in BridgeBio Pharma during the 4th quarter worth approximately $50,000. Finally, EntryPoint Capital LLC purchased a new position in BridgeBio Pharma in the 1st quarter valued at $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.