BridgeBio Pharma (NASDAQ:BBIO) PT Lowered to $42.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective cut by Bank of America from $50.00 to $42.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently weighed in on BBIO. Mizuho reduced their price target on BridgeBio Pharma from $60.00 to $53.00 and set a buy rating for the company in a research report on Tuesday, March 5th. Evercore ISI began coverage on BridgeBio Pharma in a research note on Tuesday, May 14th. They set an outperform rating and a $50.00 price objective on the stock. 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 research note on Tuesday, May 28th. Raymond James began coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They set an outperform rating and a $45.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of Moderate Buy and an average price target of $47.21.

BridgeBio Pharma Stock Up 1.7 %

NASDAQ:BBIO opened at $23.38 on Tuesday. BridgeBio Pharma has a twelve month low of $15.35 and a twelve month high of $44.32. The business has a 50 day moving average price of $27.39 and a two-hundred day moving average price of $31.75. The company has a market cap of $4.38 billion, a P/E ratio of -7.26 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. As a group, analysts anticipate that BridgeBio Pharma will post -3.2 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction 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 sale, the director now owns 5,500 shares in the company, valued at approximately $158,620. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares during the period. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares during the period. Capital Research Global Investors increased its position in BridgeBio Pharma by 101.1% during the 1st 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 period. Wellington Management Group LLP increased its position in BridgeBio Pharma by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after buying an additional 75,564 shares during the period. Finally, Norges Bank bought a new position in BridgeBio Pharma during the 4th quarter worth $46,843,000. Institutional investors 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.