BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $43.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 60.87% from the company’s previous close.

BBIO has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. UBS Group reduced their target price on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Price Performance

BBIO opened at $26.73 on Monday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -8.30 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The business has a 50-day moving average of $26.52 and a two-hundred day moving average of $27.24.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period last year, the company posted ($0.98) EPS. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts anticipate that BridgeBio Pharma will post -2.49 earnings per share for the current year.

Insider Activity

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction 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. Insiders sold 5,831,544 shares of company stock worth $150,128,821 over the last quarter. Corporate insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the company. Bfsg LLC lifted its position in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in BridgeBio Pharma during the first quarter worth approximately $34,000. Headlands Technologies LLC bought a new stake in BridgeBio Pharma during the second quarter worth approximately $48,000. Quarry LP acquired a new position in BridgeBio Pharma during the fourth quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC bought a new position in shares of BridgeBio Pharma in the first quarter valued at approximately $117,000. Institutional investors 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.