BridgeBio Pharma (NASDAQ:BBIO) Given “Buy” Rating at HC Wainwright

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

BBIO has been the topic of several other reports. Piper Sandler initiated coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an overweight rating and a $46.00 price objective on the stock. UBS Group cut their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating for the company in a research report on Tuesday, May 28th. Bank of America restated a buy rating and set a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Cantor Fitzgerald reiterated an overweight rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. reduced 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of Moderate Buy and an average target price of $47.92.

BridgeBio Pharma Stock Up 3.4 %

BridgeBio Pharma stock opened at $26.83 on Monday. The firm has a market capitalization of $5.02 billion, a PE ratio of -8.33 and a beta of 1.07. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The firm’s 50-day simple moving average is $26.51 and its 200 day simple moving average is $27.23.

BridgeBio Pharma (NASDAQ:BBIO) last announced its 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 analyst estimates of $3.96 million. The business’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.98) EPS. On average, research analysts expect that BridgeBio Pharma will post -2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 transaction of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. Vanguard Personalized Indexing Management LLC purchased a new position in BridgeBio Pharma in the fourth quarter valued at about $300,000. Norges Bank acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $46,843,000. UBS Group AG boosted its stake in shares of 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 buying an additional 832,940 shares during the last quarter. Assetmark Inc. increased its stake in shares of BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares during the last quarter. Finally, Commerce Bank acquired a new stake in BridgeBio Pharma in the fourth quarter valued at $244,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.