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

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Monday,Benzinga reports. They currently have a $100.00 price objective on the stock.

A number of other analysts have also commented on BBIO. Royal Bank Of Canada initiated coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price for the company. Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 target price on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Truist Financial boosted their target price on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Wells Fargo & Company boosted their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Twenty-four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $74.49 on Monday. BridgeBio Pharma has a one year low of $31.77 and a one year high of $84.94. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of -19.71 and a beta of 1.09. The business has a 50-day simple moving average of $71.45 and a 200 day simple moving average of $70.74.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. During the same period last year, the firm earned ($1.40) earnings per share. BridgeBio Pharma’s quarterly revenue was up 2521.2% compared to the same quarter last year. On average, sell-side analysts expect that BridgeBio Pharma will post -2.07 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $874,505.94. The trade was a 46.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total value of $2,877,600.00. Following the transaction, the chief executive officer owned 695,686 shares of the company’s stock, valued at $50,047,650.84. This trade represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 237,084 shares of company stock worth $16,634,419. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of BBIO. Strs Ohio lifted its stake in BridgeBio Pharma by 1.1% in the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after purchasing an additional 200 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in BridgeBio Pharma by 4.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after purchasing an additional 244 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in BridgeBio Pharma by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after purchasing an additional 246 shares during the last quarter. Finally, CWM LLC lifted its stake in BridgeBio Pharma by 4.3% in the fourth quarter. CWM LLC now owns 6,444 shares of the company’s stock valued at $493,000 after purchasing an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.