Jefferies Financial Group Begins Coverage on BridgeBio Pharma (NASDAQ:BBIO)

Research analysts at Jefferies Financial Group began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $70.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 49.03% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank increased their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price target on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price target for the company. HC Wainwright raised their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Oppenheimer raised shares of BridgeBio Pharma from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Wednesday, July 9th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $46.97 on Monday. The company has a 50 day simple moving average of $39.08 and a 200-day simple moving average of $35.57. The company has a market capitalization of $8.92 billion, a P/E ratio of -13.31 and a beta of 1.15. BridgeBio Pharma has a 1 year low of $21.72 and a 1 year high of $48.68.

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

Insiders Place Their Bets

In related news, Director Hannah Valantine sold 2,289 shares of BridgeBio Pharma stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $44.05, for a total transaction of $100,830.45. Following the sale, the director directly owned 398 shares in the company, valued at $17,531.90. This trade represents a 85.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $42.54, for a total transaction of $1,701,600.00. Following the sale, the chief executive officer owned 975,686 shares in the company, valued at $41,505,682.44. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,926,181 shares of company stock worth $375,528,164. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its stake in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after acquiring an additional 912,439 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in BridgeBio Pharma by 29.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock worth $1,065,000 after acquiring an additional 6,997 shares in the last quarter. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after acquiring an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BridgeBio Pharma during the 1st quarter worth $251,000. Finally, Teacher Retirement System of Texas increased its stake in BridgeBio Pharma by 28.6% in the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock valued at $994,000 after purchasing an additional 8,048 shares during the period. 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.