BridgeBio Pharma (NASDAQ:BBIO) Earns Buy Rating from HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $43.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 80.37% from the stock's previous close.

Several other analysts have also recently commented on the company. Oppenheimer started coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating on the stock. Bank of America restated a "buy" rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Piper Sandler assumed coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 price target for the company. Scotiabank initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $44.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

BridgeBio Pharma Stock Performance

Shares of BBIO traded down $0.33 during midday trading on Friday, hitting $23.84. 1,271,135 shares of the company traded hands, compared to its average volume of 1,857,564. The firm has a 50 day moving average of $26.11 and a 200-day moving average of $26.53. 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 $4.46 billion, a price-to-earnings ratio of -7.65 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the company earned ($0.98) EPS. The business's revenue was up 32.1% on a year-over-year basis. Sell-side analysts predict that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brian C. Stephenson sold 4,155 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently modified their holdings of the company. Bfsg LLC grew its stake in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma in the second quarter valued at about $48,000. Values First Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the third quarter valued at $57,000. CWM LLC raised its position in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company's stock valued at $88,000 after purchasing an additional 1,964 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in BridgeBio Pharma in the first quarter valued at about $117,000. 99.85% of the stock is 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.