BridgeBio Pharma (NASDAQ:BBIO) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note published on Monday morning, Benzinga reports. HC Wainwright currently has a $43.00 price objective on the stock. HC Wainwright also issued estimates for BridgeBio Pharma’s Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.90) EPS, FY2024 earnings at ($2.50) EPS, Q1 2025 earnings at ($0.91) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.89) EPS and FY2025 earnings at ($3.53) EPS.

BBIO has been the topic of a number of other research reports. Evercore ISI assumed coverage on BridgeBio Pharma in a research note on Tuesday, May 14th. They set an outperform rating and a $50.00 price target on the stock. Bank of America cut their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a buy rating on the stock in a report on Tuesday, June 25th. Cantor Fitzgerald reiterated an overweight rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, July 1st. Finally, UBS Group lowered their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $48.09.

BridgeBio Pharma Stock Up 2.3 %

NASDAQ BBIO opened at $24.48 on Monday. The stock has a market capitalization of $4.58 billion, a PE ratio of -7.60 and a beta of 1.06. The firm has a 50 day moving average of $26.47 and a two-hundred day moving average of $29.04. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32.

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 business had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company earned ($0.98) earnings per share. On average, equities research analysts expect that BridgeBio Pharma will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after acquiring an additional 75,564 shares during the last quarter. UBS Group AG grew its stake in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after buying an additional 832,940 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of BridgeBio Pharma by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after acquiring an additional 145,594 shares in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $408,828,000 after acquiring an additional 421,832 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new position in shares of BridgeBio Pharma during the 4th quarter valued at $7,474,000. 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.