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

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Friday morning, Benzinga reports. They currently have a $43.00 target price on the stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Evercore ISI reduced their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Bank of America reaffirmed a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $47.50.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $23.84 on Friday. The company’s 50 day moving average price is $26.10 and its 200-day moving average price is $26.48. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $44.32. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -7.40 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last issued 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 firm had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. The business’s revenue was up 32.1% on a year-over-year basis. During the same period last year, the company posted ($0.98) earnings per share. As a group, equities research analysts forecast that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian C. Stephenson sold 4,155 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBIO. Bfsg LLC raised its holdings in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Headlands Technologies LLC bought a new stake in BridgeBio Pharma during the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the 3rd quarter valued at approximately $57,000. CWM LLC lifted its holdings in BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in BridgeBio Pharma in the 1st quarter worth approximately $117,000. 99.85% of the stock is currently owned by institutional investors.

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.