BridgeBio Pharma (NASDAQ:BBIO) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $46.00 target price on the stock.

BBIO has been the topic of several other research reports. UBS Group reduced their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research report on Tuesday, May 28th. Cantor Fitzgerald reiterated an overweight rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, July 1st. Bank of America lowered their price target on BridgeBio Pharma from $50.00 to $42.00 and set a buy rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. cut their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Finally, HC Wainwright restated a buy rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Down 1.9 %

Shares of BridgeBio Pharma stock opened at $30.70 on Wednesday. The business has a 50 day moving average of $26.18 and a 200 day moving average of $27.63. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market cap of $5.74 billion, a PE ratio of -9.53 and a beta of 1.07.

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

Insider Activity

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated 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 of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction 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 approximately $120,917,867.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in 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 purchasing an additional 2,169,143 shares during the period. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 13.5% in 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 last quarter. Norges Bank acquired a new position in BridgeBio Pharma during the 4th quarter valued at approximately $46,843,000. Capital Research Global Investors boosted its holdings in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the period. Finally, UBS Group AG grew its position in BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after purchasing an additional 832,940 shares during the last quarter. 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.