BridgeBio Pharma (NASDAQ:BBIO) Earns “Overweight” Rating from Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $95.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 157.80% from the company’s previous close.

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

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $36.85 on Friday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. The stock’s 50-day moving average is $31.90 and its two-hundred day moving average is $27.95.

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

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock valued at $122,612,036 in the last quarter. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBIO. Farallon Capital Management LLC raised its position in shares of BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Woodline Partners LP raised its position in shares of BridgeBio Pharma by 132.9% during the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company’s stock worth $60,684,000 after purchasing an additional 1,261,772 shares during the last quarter. Norges Bank acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $29,237,000. Alyeska Investment Group L.P. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $25,805,000. Finally, Capital Research Global Investors raised its position in shares of BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during 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.