BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $43.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 57.16% from the stock’s previous close.

BBIO has been the subject of several other research reports. UBS Group decreased their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Evercore ISI assumed coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective for the company. Raymond James started coverage on BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $47.62.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $27.36 on Thursday. BridgeBio Pharma has a 1 year low of $15.35 and a 1 year high of $44.32. The firm has a market cap of $5.12 billion, a PE ratio of -8.50 and a beta of 1.08. The stock has a fifty day moving average price of $27.48 and a 200-day moving average price of $31.89.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million for the quarter, compared to analysts’ expectations of $140.06 million. As a group, equities analysts anticipate that BridgeBio Pharma will post -3.2 EPS for the current fiscal year.

Insider Activity

In other news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $158,620. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Large investors have recently modified their holdings of the business. Zimmer Partners LP lifted its position in BridgeBio Pharma by 12.6% in the 1st quarter. Zimmer Partners LP now owns 73,200 shares of the company’s stock worth $2,263,000 after buying an additional 8,200 shares during the last quarter. Comerica Bank lifted its position in BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after buying an additional 37,277 shares during the last quarter. California State Teachers Retirement System lifted its position in BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock worth $3,265,000 after buying an additional 7,153 shares during the last quarter. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after buying an additional 145,594 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.