BridgeBio Pharma’s (BBIO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $43.00 target price on the stock.

A number of other research firms have also recently commented on BBIO. Bank of America cut their target price on BridgeBio Pharma from $50.00 to $42.00 and set a buy rating on the stock in a research report on Tuesday, June 25th. UBS Group dropped their target price on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research report on Tuesday, May 28th. Evercore ISI dropped their target price on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, July 1st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $47.92.

BridgeBio Pharma Trading Down 1.9 %

NASDAQ:BBIO opened at $30.70 on Tuesday. The firm has a market cap of $5.74 billion, a PE ratio of -9.53 and a beta of 1.07. The stock has a fifty day moving average price of $26.18 and a 200 day moving average price of $27.69. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm earned ($0.98) earnings per share. Equities analysts forecast that BridgeBio Pharma will post -2.46 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 completion of the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The shares were 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 owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP boosted its position in BridgeBio Pharma by 27.1% in the 2nd quarter. Quarry LP now owns 7,500 shares of the company’s stock valued at $190,000 after buying an additional 1,600 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in BridgeBio Pharma by 6.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after acquiring an additional 217,000 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in BridgeBio Pharma in the second quarter worth about $4,251,000. Lion Point Capital LP bought a new position in BridgeBio Pharma in the second quarter worth about $1,241,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after purchasing an additional 442,248 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.