BridgeBio Pharma (NASDAQ:BBIO) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $70.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Wolfe Research began coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They issued an “outperform” rating and a $49.00 price objective for the company. Bank of America lifted their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Oppenheimer lifted their price objective on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. UBS Group boosted their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on BridgeBio Pharma from $67.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, June 30th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $63.94.

BridgeBio Pharma Trading Up 0.5%

Shares of BridgeBio Pharma stock opened at $51.47 on Monday. The firm has a market capitalization of $9.84 billion, a P/E ratio of -12.58 and a beta of 1.25. The business has a fifty day simple moving average of $48.70 and a two-hundred day simple moving average of $40.47. BridgeBio Pharma has a 12 month low of $21.72 and a 12 month high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm 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 firm earned ($0.39) EPS. BridgeBio Pharma’s quarterly revenue was up 4999.9% on a year-over-year basis. Analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity

In other news, Director Charles J. Homcy sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the transaction, the director owned 966,674 shares of the company’s stock, valued at approximately $44,515,337.70. The trade was a 20.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $45.45, for a total value of $1,818,000.00. Following the completion of the transaction, the chief executive officer directly owned 935,686 shares in the company, valued at $42,526,928.70. This trade represents a 4.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,202,620 shares of company stock worth $187,174,970. Company insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in BBIO. Osaic Holdings Inc. increased its holdings in shares of BridgeBio Pharma by 218.3% in the second quarter. Osaic Holdings Inc. now owns 4,167 shares of the company’s stock valued at $179,000 after purchasing an additional 2,858 shares during the period. Marex Group plc acquired a new stake in BridgeBio Pharma in the second quarter valued at approximately $273,000. Tower Research Capital LLC TRC grew its holdings in BridgeBio Pharma by 71.6% in the second quarter. Tower Research Capital LLC TRC now owns 12,876 shares of the company’s stock valued at $556,000 after purchasing an additional 5,373 shares during the period. Corient Private Wealth LLC acquired a new stake in BridgeBio Pharma in the second quarter valued at approximately $647,000. Finally, E Fund Management Co. Ltd. grew its holdings in BridgeBio Pharma by 16.3% in the second quarter. E Fund Management Co. Ltd. now owns 21,965 shares of the company’s stock valued at $948,000 after purchasing an additional 3,075 shares during the period. 99.85% of the stock is currently owned by hedge funds and other 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.