BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $49.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank boosted their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. HC Wainwright upped their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

BridgeBio Pharma Stock Down 2.6%

Shares of BBIO stock opened at $40.07 on Tuesday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $41.36. The firm’s 50 day moving average price is $35.65 and its two-hundred day moving average price is $33.31. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -11.35 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The business’s revenue was down 44.8% compared to the same quarter last year. On average, equities analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the sale, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hannah Valantine sold 4,292 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $40.00, for a total value of $171,680.00. Following the transaction, the director now directly owns 1,764 shares of the company’s stock, valued at $70,560. This trade represents a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,396,474 shares of company stock worth $219,332,971. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after acquiring an additional 879,059 shares during the period. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of BridgeBio Pharma by 140.1% in the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after purchasing an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in shares of BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after buying an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after buying an additional 912,439 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Company Profile

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.