BridgeBio Pharma (NASDAQ:BBIO) Earns “Buy” Rating from HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $43.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 55.74% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Mizuho dropped their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, May 28th. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. UBS Group dropped their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, Raymond James began coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They set an “outperform” rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $47.62.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $27.61 on Thursday. The business’s 50-day simple moving average is $27.50 and its 200 day simple moving average is $31.95. The company has a market cap of $5.17 billion, a P/E ratio of -8.57 and a beta of 1.08. BridgeBio Pharma has a one year low of $14.78 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.35. The firm had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. Analysts predict that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $158,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Zimmer Partners LP lifted its stake in BridgeBio Pharma by 12.6% in the first quarter. Zimmer Partners LP now owns 73,200 shares of the company’s stock valued at $2,263,000 after buying an additional 8,200 shares during the last quarter. Comerica Bank grew its holdings in BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after buying an additional 37,277 shares in the last quarter. California State Teachers Retirement System grew its holdings in BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock worth $3,265,000 after buying an additional 7,153 shares in the last quarter. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after acquiring an additional 2,169,143 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in BridgeBio Pharma by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after acquiring an additional 145,594 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.