HC Wainwright Reiterates “Buy” Rating for BridgeBio Pharma (NASDAQ:BBIO)

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $43.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 77.91% from the company’s previous close.

BBIO has been the topic of several other reports. Leerink Partners cut their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Oppenheimer assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

BridgeBio Pharma Trading Down 1.1 %

Shares of NASDAQ BBIO opened at $24.17 on Friday. The company has a fifty day moving average price of $26.12 and a 200 day moving average price of $26.54. The firm has a market cap of $4.52 billion, a PE ratio of -7.51 and a beta of 1.08. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period in the prior year, the company earned ($0.98) earnings per share. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma will post -2.56 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,831,544 shares of company stock valued at $150,128,821. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in shares of BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after buying an additional 2,169,143 shares in the last quarter. Capital Research Global Investors increased its stake in BridgeBio Pharma by 101.1% during the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after acquiring an additional 1,111,975 shares during the period. Ensign Peak Advisors Inc raised its holdings in BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after acquiring an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of BridgeBio Pharma by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after acquiring an additional 442,248 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.