BridgeBio Pharma (NASDAQ:BBIO) Price Target Cut to $43.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price cut by HC Wainwright from $47.00 to $43.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for BridgeBio Pharma’s Q2 2024 earnings at ($0.99) EPS, Q3 2024 earnings at ($1.00) EPS, Q4 2024 earnings at ($0.87) EPS, FY2024 earnings at ($3.08) EPS, Q1 2025 earnings at ($0.95) EPS, Q2 2025 earnings at ($0.92) EPS, Q3 2025 earnings at ($0.91) EPS, Q4 2025 earnings at ($0.95) EPS and FY2025 earnings at ($3.72) EPS.

A number of other research analysts have also recently commented on BBIO. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Raymond James assumed coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an outperform rating and a $45.00 price target for the company. Evercore ISI began coverage on BridgeBio Pharma in a research note on Tuesday, May 14th. They issued an outperform rating and a $50.00 price objective on the stock. Citigroup increased their price objective on BridgeBio Pharma from $42.00 to $46.00 and gave the company a buy rating in a research report on Friday, February 23rd. Finally, Mizuho decreased their price target on BridgeBio Pharma from $60.00 to $53.00 and set a buy rating on the stock in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $47.67.

BridgeBio Pharma Stock Performance

BBIO opened at $29.27 on Monday. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32. The stock has a market capitalization of $5.48 billion, a P/E ratio of -9.09 and a beta of 1.08. The business’s 50-day simple moving average is $27.92 and its 200-day simple moving average is $32.10.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $4.78 million. During the same quarter in the previous year, the business posted ($0.92) EPS. BridgeBio Pharma’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities research analysts forecast that BridgeBio Pharma will post -3.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now directly owns 6,500 shares in the company, valued at $221,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 28.52% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. purchased a new position in BridgeBio Pharma in the first quarter valued at $34,000. Quarry LP acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $50,000. EntryPoint Capital LLC acquired a new stake in shares of BridgeBio Pharma during the 1st quarter worth about $117,000. Assetmark Inc. lifted its stake in BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $132,000. 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.