BridgeBio Pharma (NASDAQ:BBIO) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report released on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $49.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. HC Wainwright increased their price objective on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. Redburn Atlantic began coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 target price for the company. Finally, Scotiabank increased their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $56.67.

BridgeBio Pharma Trading Down 0.2%

Shares of NASDAQ:BBIO opened at $40.00 on Tuesday. The firm’s 50 day moving average is $35.95 and its two-hundred day moving average is $33.45. The firm has a market capitalization of $7.60 billion, a P/E ratio of -11.33 and a beta of 1.10. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.71.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same period last year, the company earned ($0.20) earnings per share. The business’s quarterly revenue was down 44.8% compared to the same quarter last year. Analysts predict that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the sale, the chief executive officer now directly owns 4,948,447 shares in the company, valued at approximately $182,449,240.89. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,396,474 shares of company stock valued at $219,332,971 over the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares in the last quarter. GAMMA Investing LLC increased its stake in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after buying an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the 1st quarter valued at approximately $35,000. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma in the 4th quarter worth approximately $41,000. Finally, Sterling Capital Management LLC boosted its stake in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after buying an additional 1,514 shares during the period. Hedge funds and other 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.