Cantor Fitzgerald Reiterates Overweight Rating for BridgeBio Pharma (NASDAQ:BBIO)

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $70.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 176.68% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Raymond James assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective for the company. Bank of America dropped their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. HC Wainwright reiterated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Thursday, June 20th. Evercore ISI initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Mizuho reduced their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.21.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $25.30 on Monday. The firm has a market capitalization of $4.73 billion, a PE ratio of -7.86 and a beta of 1.06. The stock’s fifty day moving average is $27.38 and its 200 day moving average is $31.56. BridgeBio Pharma has a fifty-two week low of $16.61 and a fifty-two week high of $44.32.

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

Insider Activity

In related news, Director Randal W. Scott sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at $158,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $34,000. Quarry LP purchased a new position in BridgeBio Pharma in the fourth quarter worth $50,000. EntryPoint Capital LLC acquired a new position in shares of BridgeBio Pharma during the first quarter worth $117,000. Assetmark Inc. lifted its holdings in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after purchasing an additional 935 shares during the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth $213,000. 99.85% of the stock is currently owned by institutional investors.

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.