BridgeBio Pharma (NASDAQ:BBIO) Rating Reiterated by Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $70.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 133.41% from the stock’s current price.

BBIO has been the subject of a number of other reports. Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, September 3rd. UBS Group decreased their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Bank of America cut their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Finally, Piper Sandler assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Down 2.3 %

BBIO stock opened at $29.99 on Monday. The business has a fifty day simple moving average of $26.39 and a 200-day simple moving average of $27.53. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market cap of $5.61 billion, a price-to-earnings ratio of -9.31 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the company posted ($0.98) earnings per share. As a group, analysts expect that BridgeBio Pharma will post -2.49 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,220 shares of the company’s stock valued at $45,344,000 after purchasing an additional 66,945 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of BridgeBio Pharma by 26.5% during the fourth quarter. Principal Financial Group Inc. now owns 943,484 shares of the company’s stock valued at $38,088,000 after purchasing an additional 197,818 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at $300,000. Panagora Asset Management Inc. lifted its holdings in shares of BridgeBio Pharma by 9.2% during the fourth quarter. Panagora Asset Management Inc. now owns 192,842 shares of the company’s stock valued at $7,785,000 after purchasing an additional 16,298 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at $46,843,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.