BridgeBio Pharma (NASDAQ:BBIO) Earns Buy Rating from Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $50.00 price target on the stock. Redburn Atlantic’s target price points to a potential upside of 42.41% from the stock’s current price.

Several other equities analysts have also recently weighed in on BBIO. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Evercore ISI increased their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.64.

BridgeBio Pharma Stock Down 3.5 %

Shares of BBIO opened at $35.11 on Monday. The business’s fifty day moving average is $34.26 and its 200 day moving average is $29.29. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.47. The stock has a market cap of $6.68 billion, a P/E ratio of -12.32 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. On average, analysts expect that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the transaction, the chief executive officer now owns 4,948,447 shares of the company’s stock, valued at $182,449,240.89. This represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,654,739 shares of company stock worth $325,937,151. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC grew its stake in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after buying an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $109,000. Finally, Avanza Fonder AB purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $181,000. Hedge funds and other 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.