BridgeBio Pharma (NASDAQ:BBIO) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $70.00 price target on the stock.

Several other equities research analysts have also recently issued reports on BBIO. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They set a “buy” rating and a $50.00 price objective for the company. Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Citigroup lifted their price objective on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer raised shares of BridgeBio Pharma from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Wolfe Research began coverage on shares of BridgeBio Pharma in a research report on Tuesday, June 17th. They set an “outperform” rating and a $49.00 price objective for the company. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

BridgeBio Pharma Stock Up 2.6%

Shares of BBIO stock opened at $47.69 on Monday. BridgeBio Pharma has a 52 week low of $21.72 and a 52 week high of $48.68. The stock has a market capitalization of $9.06 billion, a PE ratio of -13.51 and a beta of 1.15. The firm has a 50 day moving average of $38.88 and a two-hundred day moving average of $35.49.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. The business’s quarterly revenue was down 44.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) EPS. Analysts expect that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the transaction, the insider directly owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $42.54, for a total transaction of $1,701,600.00. Following the completion of the transaction, the chief executive officer owned 975,686 shares in the company, valued at approximately $41,505,682.44. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,926,181 shares of company stock valued at $375,528,164 over the last quarter. 18.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the first quarter valued at $35,000. Steward Partners Investment Advisory LLC increased its stake in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth about $41,000. Finally, Sterling Capital Management LLC increased its stake in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.