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

Oppenheimer assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage issued a market perform rating on the stock.

A number of other research firms have also recently weighed in on BBIO. Cantor Fitzgerald restated an overweight rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. HC Wainwright restated a buy rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Monday. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an overweight rating and a $46.00 target price for the company. Bank of America reissued a buy rating and issued a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a 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’s stock. According to MarketBeat, BridgeBio Pharma has an average rating of Moderate Buy and an average target price of $47.92.

BridgeBio Pharma Stock Up 2.2 %

Shares of NASDAQ:BBIO opened at $25.63 on Thursday. The firm’s 50 day moving average price is $26.12 and its 200-day moving average price is $26.96. The stock has a market capitalization of $4.80 billion, a PE ratio of -7.96 and a beta of 1.08. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

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 the consensus estimate 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 company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.98) EPS. Analysts expect that BridgeBio Pharma will post -2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’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 completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BridgeBio Pharma news, 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 transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of BBIO. TD Asset Management Inc purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at $1,174,000. Campbell & CO Investment Adviser LLC increased its position in shares of BridgeBio Pharma by 50.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,071 shares of the company’s stock worth $931,000 after purchasing an additional 7,775 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of BridgeBio Pharma by 11.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 744,132 shares of the company’s stock valued at $30,041,000 after purchasing an additional 78,528 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of BridgeBio Pharma by 9.8% in the 4th quarter. Nomura Holdings Inc. now owns 257,995 shares of the company’s stock worth $10,415,000 after purchasing an additional 22,986 shares in the last quarter. Finally, Superstring Capital Management LP purchased a new position in BridgeBio Pharma during the 4th quarter worth $8,329,000. 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.