BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $56.00 at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO) had its price objective boosted by HC Wainwright from $53.00 to $56.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. UBS Group upped their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a research note on Saturday. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Citigroup increased their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.36.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $39.03 on Monday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.85. The company has a 50-day moving average of $34.64 and a 200 day moving average of $32.82. The firm has a market cap of $7.41 billion, a PE ratio of -13.69 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. During the same period in the previous year, the company posted ($0.20) EPS. BridgeBio Pharma’s revenue for the quarter was down 44.8% on a year-over-year basis. Sell-side analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares of the company’s stock, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the sale, the chief executive officer now owns 4,798,447 shares in the company, valued at approximately $160,268,129.80. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,392,182 shares of company stock worth $219,161,291 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in BridgeBio Pharma by 0.5% in the first quarter. Rhumbline Advisers now owns 220,128 shares of the company’s stock valued at $7,610,000 after buying an additional 1,008 shares during the last quarter. Strs Ohio purchased a new position in BridgeBio Pharma during the 1st quarter worth approximately $408,000. Wealth Management Associates Inc. lifted its stake in BridgeBio Pharma by 19.0% during the 1st quarter. Wealth Management Associates Inc. now owns 8,980 shares of the company’s stock valued at $310,000 after acquiring an additional 1,435 shares during the period. Intech Investment Management LLC boosted its holdings in shares of BridgeBio Pharma by 12.0% in the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock valued at $2,542,000 after acquiring an additional 7,877 shares during the last quarter. Finally, Zimmer Partners LP boosted its holdings in shares of BridgeBio Pharma by 67.1% in the 1st quarter. Zimmer Partners LP now owns 301,400 shares of the company’s stock valued at $10,419,000 after acquiring an additional 121,000 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.