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

Cantor Fitzgerald restated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Monday morning, Benzinga reports. They currently have a $70.00 price objective on the stock.

A number of other equities research analysts have also commented on the company. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an overweight rating and a $46.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Evercore ISI decreased their price target on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating for the company in a report on Wednesday, August 7th. HC Wainwright reissued a buy rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Tuesday, September 3rd. Finally, Bank of America decreased their price target on BridgeBio Pharma from $50.00 to $42.00 and set a buy rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $30.70 on Monday. The stock’s 50-day simple moving average is $26.29 and its 200-day simple moving average is $27.56. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of -9.53 and a beta of 1.07. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. BridgeBio Pharma’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) EPS. As a group, equities analysts forecast that BridgeBio Pharma will post -2.49 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Large investors have recently made changes to their positions in the company. Bfsg LLC increased its position in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of BridgeBio Pharma during the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth approximately $48,000. Quarry LP purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $50,000. Finally, EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma in the 1st quarter valued at $117,000. 99.85% of the stock is currently owned by hedge funds and other 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.