BridgeBio Pharma’s (BBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note published on Monday morning, Benzinga reports. They currently have a $43.00 price objective on the stock.

Several other equities research analysts have also weighed in on BBIO. JPMorgan Chase & Co. decreased their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Evercore ISI reduced their price target 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. Bank of America reissued a buy rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an overweight rating and a $46.00 target price on the stock. Finally, Cantor Fitzgerald restated an overweight rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of Moderate Buy and an average price target of $47.92.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $25.63 on Monday. The company has a market capitalization of $4.80 billion, a PE ratio of -7.96 and a beta of 1.08. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $44.32. The company has a 50-day simple moving average of $26.12 and a 200 day simple moving average of $26.96.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 firm had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same quarter in the previous year, the company posted ($0.98) EPS. BridgeBio Pharma’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brian C. Stephenson sold 4,155 shares of the firm’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 $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 in the last quarter. 24.66% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of BridgeBio Pharma by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after purchasing an additional 75,564 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after buying an additional 145,594 shares during the period. Vanguard Group Inc. raised its holdings in shares of BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after acquiring an additional 421,832 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in BridgeBio Pharma in the fourth quarter worth $7,474,000. Finally, Comerica Bank lifted its position in shares of BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after purchasing an additional 37,277 shares during the period. 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.