BridgeBio Pharma (NASDAQ:BBIO) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report released on Friday,Benzinga reports. They currently have a $95.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. 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. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.67.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $36.85 on Friday. The company’s 50 day simple moving average is $31.90 and its two-hundred day simple moving average is $27.93. The stock has a market capitalization of $6.96 billion, a PE ratio of -15.29 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

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

Insider Activity

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the completion of the sale, the chief executive officer now directly owns 211,718 shares in the company, valued at $7,651,488.52. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,496,239 shares of company stock valued at $122,612,036. Insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the business. Ironwood Investment Management LLC lifted its stake 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 acquiring an additional 338 shares during the period. Summit Investment Advisors Inc. raised its holdings in 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 in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 85.8% in the 4th 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 during the period. Mackenzie Financial Corp boosted its stake in shares of BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after purchasing an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.