BridgeBio Pharma (NASDAQ:BBIO) Earns “Buy” Rating from Bank of America

Bank of America reaffirmed their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Wednesday, Benzinga reports. They currently have a $42.00 price objective on the stock.

BBIO has been the topic of a number of other research reports. Piper Sandler began coverage on shares of 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 decreased 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. HC Wainwright restated a buy rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, September 3rd. Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price target 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. 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 an average rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Down 2.9 %

BridgeBio Pharma stock opened at $26.18 on Wednesday. The company has a market capitalization of $4.90 billion, a PE ratio of -8.13 and a beta of 1.07. The firm has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $27.47. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same quarter in the previous year, the firm posted ($0.98) EPS. BridgeBio Pharma’s revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts expect that BridgeBio Pharma will post -2.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’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 $676,234.41. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bfsg LLC lifted its stake in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of BridgeBio Pharma in the first quarter worth approximately $34,000. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma in the second quarter worth approximately $48,000. Quarry LP bought a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $50,000. Finally, EntryPoint Capital LLC bought a new position in BridgeBio Pharma during the first quarter valued at approximately $117,000. 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.