BridgeBio Pharma’s (BBIO) Buy Rating Reaffirmed at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $43.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 64.25% from the company’s previous close.

A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Bank of America restated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. UBS Group dropped their price target 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. Piper Sandler began coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. Finally, Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Down 2.9 %

Shares of NASDAQ:BBIO opened at $26.18 on Monday. The company has a market cap of $4.90 billion, a PE ratio of -8.13 and a beta of 1.07. The company’s 50-day moving average price is $26.50 and its 200 day moving average price is $27.36. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same quarter last year, the firm posted ($0.98) earnings per share. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts anticipate that BridgeBio Pharma will post -2.49 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma 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 $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma 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 directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’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 transaction of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares in the last quarter. Vanguard Group Inc. grew its position in BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares in the last quarter. Norges Bank purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $46,843,000. Capital Research Global Investors grew its position in BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares in the last quarter. Finally, UBS Group AG grew its position in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after purchasing an additional 832,940 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.