BridgeBio Pharma (NASDAQ:BBIO) Rating Reiterated by HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $43.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 40.20% from the stock’s previous close.

A number of other brokerages have also recently commented on BBIO. UBS Group cut their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. JPMorgan Chase & Co. cut their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Bank of America cut their price target on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Up 6.7 %

Shares of NASDAQ:BBIO opened at $30.67 on Tuesday. The stock has a market cap of $5.77 billion, a PE ratio of -9.52 and a beta of 1.06. The company’s fifty day moving average is $25.95 and its 200 day moving average is $27.71. BridgeBio Pharma has a 52 week low of $21.62 and a 52 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, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. BridgeBio Pharma’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. Sell-side analysts anticipate that BridgeBio Pharma will post -2.46 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently bought and sold shares of BBIO. Janus Henderson Group PLC boosted its stake in 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 in the last quarter. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after buying an additional 1,524,313 shares during the last quarter. Norges Bank purchased a new position in BridgeBio Pharma in the fourth quarter worth about $46,843,000. Capital Research Global Investors raised its holdings in BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after buying an additional 1,111,975 shares during the last quarter. Finally, UBS Group AG raised its holdings in BridgeBio Pharma by 545.9% in the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after buying an additional 832,940 shares during the last quarter. 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.