BridgeBio Pharma’s (BBIO) “Overweight” Rating Reiterated at Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $70.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 167.18% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Evercore ISI cut their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Piper Sandler started coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. UBS Group lowered their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded up $0.02 during trading on Monday, hitting $26.20. The stock had a trading volume of 800,124 shares, compared to its average volume of 1,852,325. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -8.14 and a beta of 1.07. The stock has a 50 day simple moving average of $26.50 and a 200 day simple moving average of $27.36.

BridgeBio Pharma (NASDAQ:BBIO) last issued its 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 during the quarter, compared to the consensus estimate of $3.96 million. BridgeBio Pharma’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) earnings per share. On average, sell-side analysts predict 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 the firm’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 27,389 shares of the company’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 completion of the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of BridgeBio Pharma by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after acquiring an additional 75,564 shares during the period. UBS Group AG raised its stake in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after purchasing an additional 832,940 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after purchasing an additional 145,594 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after buying an additional 421,832 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth $7,474,000. 99.85% of the stock is currently 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.