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

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $70.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 181.01% from the company’s current price.

Other analysts have also issued reports about the stock. Raymond James assumed coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price target on the stock. Bank of America dropped their price target on shares of 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 price target 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. Evercore ISI assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $47.21.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $24.91 on Monday. BridgeBio Pharma has a one year low of $16.61 and a one year high of $44.32. The company has a 50 day moving average of $27.38 and a 200-day moving average of $31.48. The stock 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 data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. Equities research analysts anticipate that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $158,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of BridgeBio Pharma by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after acquiring an additional 75,564 shares in the last quarter. UBS Group AG increased its stake in BridgeBio Pharma by 545.9% during the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after purchasing an additional 832,940 shares in the last quarter. Vanguard Group Inc. increased its stake in BridgeBio Pharma by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in BridgeBio Pharma during the 4th quarter valued at $7,474,000. Finally, The Manufacturers Life Insurance Company increased its stake in BridgeBio Pharma by 170.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock valued at $17,552,000 after purchasing an additional 419,813 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.