Recent Investment Analysts’ Ratings Changes for BridgeBio Pharma (BBIO)

BridgeBio Pharma (NASDAQ: BBIO) recently received a number of ratings updates from brokerages and research firms:

• 9/16/2024 – BridgeBio Pharma had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $70.00 price target on the stock.
• 9/16/2024 – BridgeBio Pharma had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $43.00 price target on the stock.
• 9/11/2024 – BridgeBio Pharma had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $42.00 price target on the stock.
• 9/9/2024 – BridgeBio Pharma had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $70.00 price target on the stock.
• 9/4/2024 – BridgeBio Pharma is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $46.00 price target on the stock.
• 9/3/2024 – BridgeBio Pharma had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $43.00 price target on the stock.
• 8/22/2024 – BridgeBio Pharma had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $43.00 price target on the stock.
• 8/7/2024 – BridgeBio Pharma had its price target lowered by analysts at JPMorgan Chase & Co. from $46.00 to $43.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – BridgeBio Pharma had its price target lowered by analysts at Evercore ISI from $50.00 to $45.00. They now have an “outperform” rating on the stock.
• 8/5/2024 – BridgeBio Pharma had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $43.00 price target on the stock.

BridgeBio Pharma Stock Down 2.1 %

Shares of NASDAQ BBIO opened at $24.86 on Wednesday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The firm’s 50-day simple moving average is $26.37 and its 200 day simple moving average is $27.10. The stock has a market cap of $4.67 billion, a P/E ratio of -7.72 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued 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 company had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same period in the prior year, the business posted ($0.98) EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma 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 completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Quarry LP grew its holdings in BridgeBio Pharma by 27.1% in the 2nd quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $190,000 after buying an additional 1,600 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter worth $4,251,000. Lion Point Capital LP bought a new stake in shares of BridgeBio Pharma during the 2nd quarter worth $1,241,000. Finally, The Manufacturers Life Insurance Company increased its holdings in BridgeBio Pharma by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after purchasing an additional 442,248 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.