BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $43.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 77.91% from the company’s current price.

Several other research firms also recently issued reports on BBIO. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Bank of America restated a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Scotiabank assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $47.50.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $24.17 on Friday. The company has a market capitalization of $4.52 billion, a P/E ratio of -7.51 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’s 50 day moving average price is $26.12 and its 200-day moving average price is $26.54.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. BridgeBio Pharma’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) earnings per share. Analysts forecast that BridgeBio Pharma will post -2.56 earnings per share for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction 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 approximately $120,917,867.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated 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 approximately $2,103,390.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,831,544 shares of company stock worth $150,128,821. Corporate insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in BridgeBio Pharma by 22.1% in 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 purchasing an additional 145,594 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 last quarter. Comerica Bank boosted its position in BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after buying an additional 37,277 shares during the period. Swiss National Bank grew its holdings in BridgeBio Pharma by 17.0% in the 1st quarter. Swiss National Bank now owns 206,000 shares of the company’s stock worth $6,370,000 after acquiring an additional 29,900 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in BridgeBio Pharma by 6.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after acquiring an additional 217,000 shares during the last quarter. 99.85% of the stock is currently owned by 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.