BridgeBio Pharma’s (BBIO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report published on Monday morning, Benzinga reports. HC Wainwright currently has a $43.00 price objective on the stock.

Several other research analysts have also recently weighed in on BBIO. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an overweight rating and a $46.00 price target for the company. Cantor Fitzgerald reiterated an overweight rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Evercore ISI reduced their price target on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America restated a buy rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $47.92.

BridgeBio Pharma Stock Up 2.1 %

BridgeBio Pharma stock opened at $25.46 on Monday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -7.91 and a beta of 1.07. The stock has a 50-day moving average price of $26.22 and a 200 day moving average price of $27.00.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period last year, the firm earned ($0.98) EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts anticipate that BridgeBio Pharma will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was 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 approximately $120,917,867.67. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 in the last quarter. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBIO. Janus Henderson Group PLC increased its holdings in shares of 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 last quarter. Vanguard Group Inc. increased its holdings in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after acquiring an additional 1,524,313 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the last quarter. Altitude Crest Partners Inc. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $30,462,000. Finally, Ensign Peak Advisors Inc boosted its position in shares of BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after purchasing an additional 506,845 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.