BridgeBio Pharma’s (BBIO) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Friday morning,Benzinga reports. They currently have a $95.00 target price on the stock.

A number of other equities analysts also recently weighed in on BBIO. Bank of America upped their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank upped their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, Evercore ISI upped their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

BridgeBio Pharma Trading Up 0.1 %

NASDAQ BBIO opened at $36.85 on Friday. The stock’s 50-day moving average price is $31.90 and its two-hundred day moving average price is $27.98. The company has a market cap of $6.96 billion, a PE ratio of -12.93 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. Research analysts forecast that BridgeBio Pharma will post -3.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now directly owns 102,464 shares of the company’s stock, valued at approximately $3,705,098.24. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,496,239 shares of company stock valued at $122,612,036. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ironwood Investment Management LLC raised its stake in shares of BridgeBio Pharma by 0.5% in the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after purchasing an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after purchasing an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of BridgeBio Pharma by 17.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

About BridgeBio Pharma

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.