Cantor Fitzgerald Reaffirms Overweight Rating for BridgeBio Pharma (NASDAQ:BBIO)

Cantor Fitzgerald restated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Friday,Benzinga reports. The brokerage currently has a $95.00 price target on the stock.

Several other research firms have also issued reports on BBIO. Scotiabank lifted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, Bank of America raised their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $51.67.

BridgeBio Pharma Trading Up 0.1 %

Shares of BridgeBio Pharma stock opened at $36.85 on Friday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47. The firm has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07. The business has a fifty day simple moving average of $31.90 and a two-hundred day simple moving average of $27.93.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. Analysts predict that BridgeBio Pharma will post -2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 31,543 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the completion of the sale, the chief executive officer now directly owns 211,718 shares of the company’s stock, valued at approximately $7,651,488.52. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,496,239 shares of company stock worth $122,612,036. 24.66% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Ironwood Investment Management LLC boosted its position in BridgeBio Pharma by 0.5% in the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock worth $1,733,000 after purchasing an additional 338 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock worth $404,000 after purchasing an additional 466 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the last quarter. Mackenzie Financial Corp grew its position in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after buying an additional 592 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in 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 period. 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.