BridgeBio Pharma (NASDAQ:BBIO) Price Target Cut to $46.00 by Analysts at Leerink Partners

BridgeBio Pharma (NASDAQ:BBIO - Free Report) had its price target cut by Leerink Partners from $47.00 to $46.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Oppenheimer assumed coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a "market perform" rating for the company. Piper Sandler assumed coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 target price for the company. 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. Scotiabank assumed coverage on BridgeBio Pharma in a research report on Wednesday. They set a "sector outperform" rating and a $44.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $47.50.

BridgeBio Pharma Stock Down 0.6 %

NASDAQ BBIO traded down $0.15 during trading hours on Thursday, hitting $26.19. 995,115 shares of the company were exchanged, compared to its average volume of 1,876,855. The stock has a 50-day moving average price of $26.01 and a 200 day moving average price of $26.67. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The stock has a market cap of $4.90 billion, a PE ratio of -8.08 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same period in the previous year, the firm earned ($0.98) earnings per share. The company's revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that BridgeBio Pharma will post -2.56 earnings per share for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction on Friday, September 13th. The stock was 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 owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock worth $150,128,821 over the last 90 days. Company insiders own 24.66% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of BridgeBio Pharma by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company's stock worth $60,358,000 after purchasing an additional 75,564 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company's stock worth $24,859,000 after purchasing an additional 145,594 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company's stock valued at $408,828,000 after acquiring an additional 421,832 shares during the period. Comerica Bank increased its position in shares of BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company's stock valued at $1,191,000 after acquiring an additional 37,277 shares during the period. Finally, Swiss National Bank increased its position in shares of BridgeBio Pharma by 17.0% in the 1st quarter. Swiss National Bank now owns 206,000 shares of the company's stock valued at $6,370,000 after acquiring an additional 29,900 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.