BridgeBio Pharma (NASDAQ:BBIO) Upgraded to “Hold” at Wall Street Zen

BridgeBio Pharma (NASDAQ:BBIO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently commented on the company. HC Wainwright increased their price target on BridgeBio Pharma from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, June 9th. Piper Sandler increased their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Truist Financial started coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a “buy” rating and a $66.00 target price for the company. Finally, Citigroup raised their target price on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $46.58 on Friday. The company has a market cap of $8.90 billion, a PE ratio of -11.39 and a beta of 1.23. The stock’s 50 day simple moving average is $43.66 and its 200-day simple moving average is $37.47. BridgeBio Pharma has a 1-year low of $21.72 and a 1-year high of $49.77.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analysts’ expectations of $98.46 million. During the same period in the previous year, the company posted ($0.39) earnings per share. The business’s revenue was up 4999.9% on a year-over-year basis. On average, equities research analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $33.40, for a total transaction of $2,505,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,798,447 shares in the company, valued at $160,268,129.80. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the transaction, the insider owned 13,260,971 shares of the company’s stock, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,767,322 shares of company stock valued at $369,921,586. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in BridgeBio Pharma by 29.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock valued at $1,065,000 after purchasing an additional 6,997 shares during the period. Capital Research Global Investors boosted its holdings in BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock valued at $96,774,000 after purchasing an additional 912,439 shares during the period. GAMMA Investing LLC boosted its holdings 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. Allspring Global Investments Holdings LLC purchased a new position in BridgeBio Pharma in the first quarter valued at $251,000. Finally, Legal & General Group Plc boosted its holdings in BridgeBio Pharma by 2.8% in the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company’s stock valued at $3,678,000 after purchasing an additional 3,706 shares during the period. 99.85% of the stock is currently owned by hedge funds and other 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.