BridgeBio Pharma (NASDAQ:BBIO) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note published on Monday, Benzinga reports. The firm currently has a $70.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Bank of America cut their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, June 25th. Raymond James assumed coverage on BridgeBio Pharma in a report on Thursday, March 21st. They set an outperform rating and a $45.00 target price for the company. JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Evercore ISI assumed coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They set an outperform rating and a $50.00 target price for the company. Finally, UBS Group lowered their target price on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating for the company in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $47.21.

BridgeBio Pharma Stock Down 0.5 %

Shares of NASDAQ BBIO opened at $25.20 on Monday. The stock’s 50 day moving average price is $27.38 and its two-hundred day moving average price is $31.56. BridgeBio Pharma has a 52-week low of $16.61 and a 52-week high of $44.32. The stock has a market capitalization of $4.72 billion, a P/E ratio of -7.83 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 for the quarter, compared to analyst estimates of $140.06 million. On average, analysts anticipate that BridgeBio Pharma will post -3.2 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma 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 transaction of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zimmer Partners LP boosted its stake in BridgeBio Pharma by 12.6% during the 1st quarter. Zimmer Partners LP now owns 73,200 shares of the company’s stock valued at $2,263,000 after purchasing an additional 8,200 shares in the last quarter. Comerica Bank lifted its position in shares of BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after acquiring an additional 37,277 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of BridgeBio Pharma by 7.3% during the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock valued at $3,265,000 after acquiring an additional 7,153 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of BridgeBio Pharma by 189.7% during 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 last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of 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 during the last quarter. 99.85% of the stock is owned by 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.