BridgeBio Pharma (NASDAQ:BBIO) Rating Reiterated by HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $43.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 80.37% from the stock’s current price.

BBIO has been the subject of several other reports. Scotiabank assumed coverage on BridgeBio Pharma in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $44.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Leerink Partners dropped their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, 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 note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $23.84 on Friday. The firm’s 50 day moving average price is $26.10 and its 200-day moving average price is $26.48. 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 $4.46 billion, a PE ratio of -7.40 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the company posted ($0.98) earnings per share. On average, analysts forecast that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,831,544 shares of company stock worth $150,128,821. Corporate insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of BBIO. Profund Advisors LLC grew its position in shares of BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares in the last quarter. American International Group Inc. boosted its stake in BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after purchasing an additional 565 shares during the period. Bfsg LLC raised 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 valued at $31,000 after buying an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after buying an additional 962 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

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.