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

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $43.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 73.39% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI decreased their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Bank of America restated a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Trading Down 2.6 %

BBIO opened at $24.80 on Monday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -7.70 and a beta of 1.07. The company’s 50 day moving average is $26.16 and its 200 day moving average is $26.98. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.98) EPS. As a group, analysts predict that BridgeBio Pharma will post -2.54 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction 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 sale, the insider now 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 SEC, which is available through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction 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 sale, the insider now 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 SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 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 transaction of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock worth $150,128,821 over the last quarter. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new position in shares of BridgeBio Pharma in the first quarter worth about $34,000. Bfsg LLC lifted its stake in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the period. Quarry LP purchased a new stake in BridgeBio Pharma in the fourth quarter worth about $50,000. Headlands Technologies LLC purchased a new stake in BridgeBio Pharma in the second quarter worth about $48,000. Finally, EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma in the first quarter worth about $117,000. Institutional investors 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.