BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $70.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 161.88% from the company’s previous close.

Several other brokerages have also issued reports on BBIO. Evercore ISI lowered their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research note on Monday. UBS Group cut their target price 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. JPMorgan Chase & Co. reduced their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Trading Up 2.1 %

BBIO stock opened at $26.73 on Monday. The stock has a market cap of $5.00 billion, a P/E ratio of -8.30 and a beta of 1.07. The stock’s fifty day simple moving average is $26.52 and its two-hundred day simple moving average is $27.24. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

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

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma 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 completion of the sale, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently modified their holdings of BBIO. Vanguard Personalized Indexing Management LLC purchased a new stake in BridgeBio Pharma during the 4th quarter valued at $300,000. Norges Bank bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $46,843,000. UBS Group AG boosted its stake in shares of BridgeBio Pharma by 545.9% during the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after purchasing an additional 832,940 shares during the period. Assetmark Inc. grew its holdings in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after purchasing an additional 935 shares during the last quarter. Finally, Commerce Bank purchased a new stake in BridgeBio Pharma in the 4th quarter worth about $244,000. 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.