BridgeBio Pharma (NASDAQ:BBIO) PT Lowered to $46.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective trimmed by Leerink Partners from $47.00 to $46.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

BBIO has been the subject of a number of other reports. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Scotiabank assumed coverage on BridgeBio Pharma in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $44.00 price target on the stock. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Bank of America reissued a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, HC Wainwright restated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.50.

BridgeBio Pharma Price Performance

BBIO stock opened at $26.02 on Thursday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a 50-day moving average of $26.08 and a 200 day moving average of $26.60. The company has a market cap of $4.87 billion, a P/E ratio of -8.08 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last released 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. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.98) EPS. On average, equities research analysts expect that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $650,470,003.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BridgeBio Pharma by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares during the last quarter. Capital Research Global Investors grew its position in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after purchasing an additional 506,845 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after buying an additional 442,248 shares in the last quarter. 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.