BridgeBio Pharma (NASDAQ:BBIO) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) from a sell rating to a hold rating in a research report report published on Saturday.

Several other research analysts have also recently weighed in on the stock. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. Piper Sandler boosted their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.36.

BridgeBio Pharma Trading Up 1.1%

NASDAQ:BBIO opened at $39.03 on Friday. The firm has a 50 day moving average of $34.64 and a 200-day moving average of $32.82. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.85. The stock has a market capitalization of $7.41 billion, a P/E ratio of -13.69 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same quarter last year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was down 44.8% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Andrea Ellis sold 10,000 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $420,000. The trade was a 45.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the transaction, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,392,182 shares of company stock valued at $219,161,291 in the last quarter. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares during the period. Janus Henderson Group PLC boosted its stake in BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares during the period. Farallon Capital Management LLC boosted its stake in BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after purchasing an additional 40,000 shares during the period. Finally, Capital Research Global Investors boosted its stake in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 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.