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

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

Other research analysts have also recently issued research reports about the company. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an overweight rating and a $46.00 target price on the stock. Bank of America reaffirmed a buy rating and issued a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating for the company in a report on Wednesday, August 7th. UBS Group dropped their price target on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research report on Tuesday, May 28th. Finally, HC Wainwright reiterated a buy rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Monday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $47.92.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $25.96 on Monday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32. The company has a market cap of $4.86 billion, a PE ratio of -8.06 and a beta of 1.07. The stock has a fifty day moving average price of $26.51 and a 200 day moving average price of $27.23.

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

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the company’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 value of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Neil Kumar sold 27,389 shares of the firm’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 transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock valued at $150,128,821 over the last quarter. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC increased its stake in BridgeBio Pharma by 1.1% in the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after acquiring an additional 555 shares during the period. American International Group Inc. boosted its position in BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after buying an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after purchasing an additional 734 shares during the period. Bfsg LLC boosted its stake in shares of 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. Finally, Assetmark Inc. raised its stake in shares of BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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.