Wolfe Research Begins Coverage on BridgeBio Pharma (NASDAQ:BBIO)

Investment analysts at Wolfe Research assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $49.00 price target on the stock. Wolfe Research’s price target would suggest a potential upside of 22.50% from the stock’s previous close.

BBIO has been the subject of several other research reports. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. Piper Sandler increased their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They set a “buy” rating and a $50.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.67.

BridgeBio Pharma Trading Down 0.2%

NASDAQ:BBIO opened at $40.00 on Tuesday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $41.71. The company has a market cap of $7.60 billion, a PE ratio of -11.33 and a beta of 1.10. The company has a 50 day simple moving average of $35.80 and a two-hundred day simple moving average of $33.36.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. The business’s quarterly revenue was down 44.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. Research analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other news, Director Hannah Valantine sold 4,292 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $40.00, for a total transaction of $171,680.00. Following the completion of the sale, the director now owns 1,764 shares of the company’s stock, valued at approximately $70,560. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 26,156 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $33.33, for a total value of $871,779.48. Following the completion of the sale, the chief executive officer now owns 217,404 shares of the company’s stock, valued at $7,246,075.32. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,396,474 shares of company stock worth $219,332,971. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Finally, Sterling Capital Management LLC raised its stake in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

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.