BridgeBio Pharma (NASDAQ:BBIO) Price Target Lowered to $45.00 at Evercore ISI

BridgeBio Pharma (NASDAQ:BBIO) had its price target reduced by Evercore ISI from $50.00 to $45.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Bank of America lowered their price objective on shares of BridgeBio Pharma from $50.00 to $42.00 and set a buy rating for the company in a research report on Tuesday, June 25th. Cantor Fitzgerald reissued an overweight rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, July 1st. UBS Group reduced their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research note on Tuesday, May 28th. Finally, HC Wainwright reissued a buy rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research note on Monday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of Moderate Buy and a consensus price target of $48.09.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded up $0.56 during midday trading on Wednesday, reaching $24.48. The company’s stock had a trading volume of 1,024,581 shares, compared to its average volume of 1,800,680. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The business’s 50 day moving average price is $26.56 and its two-hundred day moving average price is $29.07. The company has a market cap of $4.58 billion, a P/E ratio of -7.43 and a beta of 1.06.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates 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. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. Sell-side analysts forecast that BridgeBio Pharma will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the transaction, the director now owns 5,500 shares in the company, valued at $158,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new stake in shares of BridgeBio Pharma in the 1st quarter worth about $34,000. Bfsg LLC increased its stake in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. Quarry LP purchased a new stake in BridgeBio Pharma in the 4th quarter valued at about $50,000. Headlands Technologies LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at about $48,000. Finally, Assetmark Inc. increased its stake in BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after buying an additional 935 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.