BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Reaffirmed by Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $70.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 181.01% from the stock’s current price.

Several other equities research analysts also recently weighed in on BBIO. Evercore ISI assumed coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price target on the stock. Raymond James assumed coverage on BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a report on Thursday, June 20th. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, UBS Group reduced their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.21.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $24.91 on Monday. The business’s 50 day moving average price is $27.38 and its 200-day moving average price is $31.48. BridgeBio Pharma has a fifty-two week low of $16.61 and a fifty-two week high of $44.32. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -7.74 and a beta of 1.06.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. Sell-side analysts predict that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares during the period. UBS Group AG increased its position in shares of BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after acquiring an additional 832,940 shares during the period. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after acquiring an additional 1,524,313 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth $7,474,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of BridgeBio Pharma by 170.8% during the third quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock worth $17,552,000 after acquiring an additional 419,813 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.