BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at Scotiabank

Equities research analysts at Scotiabank started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm set a “sector outperform” rating on the stock.

A number of other research firms also recently weighed in on BBIO. HC Wainwright restated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Evercore ISI cut their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Oppenheimer began coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating for the company. Finally, Bank of America restated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $25.38 on Wednesday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -7.88 and a beta of 1.08. The business has a 50 day simple moving average of $25.96 and a 200 day simple moving average of $26.67.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue 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 analysts anticipate that BridgeBio Pharma will post -2.56 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, 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. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 in the last three months. 24.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently modified their holdings of the stock. Bfsg LLC increased its stake in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma in the second quarter worth $48,000. CWM LLC increased its stake in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of BridgeBio Pharma in the first quarter worth $117,000. Finally, Amalgamated Bank increased its stake 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 acquiring an additional 962 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.