BridgeBio Pharma (NASDAQ:BBIO) Receives New Coverage from Analysts at Oppenheimer

Analysts at Oppenheimer assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report issued on Thursday, MarketBeat reports. The firm set a “market perform” rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Evercore ISI reduced 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 note on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Performance

BBIO opened at $25.08 on Thursday. The stock’s 50 day moving average price is $26.14 and its 200-day moving average price is $26.97. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -7.79 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The business’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the company earned ($0.98) EPS. As a group, analysts predict that BridgeBio Pharma will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the 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 directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction 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. Insiders sold a total of 5,831,544 shares of company stock valued at $150,128,821 over the last 90 days. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Profund Advisors LLC grew its position in shares of BridgeBio Pharma by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after acquiring an additional 555 shares during the period. American International Group Inc. grew its holdings in BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares in the last quarter. Bfsg LLC raised its stake in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the period. Finally, Amalgamated Bank lifted its position in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after buying an additional 962 shares in the last quarter. 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.