BridgeBio Pharma (NASDAQ:BBIO) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report released on Friday morning,Benzinga reports. The firm currently has a $95.00 target price on the stock.

A number of other analysts have also weighed in on BBIO. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Bank of America raised their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $51.67.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $36.85 on Friday. The stock has a fifty day moving average price of $31.90 and a two-hundred day moving average price of $27.98. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.47. The firm has a market capitalization of $6.96 billion, a P/E ratio of -12.93 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. On average, equities research analysts predict that BridgeBio Pharma will post -3.66 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the transaction, the chief executive officer now owns 211,718 shares in the company, valued at approximately $7,651,488.52. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,496,239 shares of company stock worth $122,612,036 over the last 90 days. Insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $1,286,000. First Turn Management LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $10,178,000. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $1,136,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares in the last quarter. 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.