BridgeBio Pharma’s (BBIO) Buy Rating Reaffirmed at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $43.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 55.74% from the stock’s previous close.

Other analysts have also recently issued reports about the company. UBS Group dropped their target price on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Tuesday, May 28th. Citigroup raised their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Mizuho decreased their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.62.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $27.61 on Thursday. BridgeBio Pharma has a fifty-two week low of $14.78 and a fifty-two week high of $44.32. The stock’s fifty day moving average is $27.50 and its two-hundred day moving average is $31.95. The firm has a market capitalization of $5.17 billion, a P/E ratio of -8.57 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. On average, equities analysts forecast that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $158,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in BridgeBio Pharma by 545.9% during the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after buying an additional 832,940 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the fourth quarter worth $7,474,000. The Manufacturers Life Insurance Company increased its position in shares of BridgeBio Pharma by 170.8% during the third quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock worth $17,552,000 after acquiring an additional 419,813 shares during the period. Primecap Management Co. CA raised its stake in shares of BridgeBio Pharma by 34.9% in the third quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock valued at $24,754,000 after acquiring an additional 242,608 shares in the last quarter. Finally, Boone Capital Management LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at $8,264,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.