BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Thursday, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

Several other research analysts also recently issued reports on the stock. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an overweight rating and a $46.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Bank of America reissued a buy rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. HC Wainwright restated a buy rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price target 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Down 1.6 %

Shares of NASDAQ:BBIO opened at $25.23 on Thursday. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -7.84 and a beta of 1.08. The business has a 50 day moving average price of $26.08 and a 200 day moving average price of $26.93. BridgeBio Pharma has a twelve month low of $21.62 and a twelve 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 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 the consensus estimate of $3.96 million. During the same period in the prior year, the company posted ($0.98) earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. Analysts anticipate that BridgeBio Pharma will post -2.54 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction dated 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 completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB increased its holdings in shares of BridgeBio Pharma by 17.7% in the third quarter. Handelsbanken Fonder AB now owns 32,550 shares of the company’s stock valued at $829,000 after purchasing an additional 4,900 shares in the last quarter. Quarry LP boosted its position in BridgeBio Pharma by 27.1% in the 2nd quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $190,000 after buying an additional 1,600 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of 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 valued at $92,014,000 after buying an additional 217,000 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of BridgeBio Pharma during the second quarter worth $4,251,000. Finally, Lion Point Capital LP acquired a new position in shares of BridgeBio Pharma during the second quarter valued at $1,241,000. 99.85% of the stock is 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.