BridgeBio Pharma (NASDAQ:BBIO) Upgraded at UBS Group

UBS Group upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

Several other brokerages have also recently issued reports on BBIO. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Cantor Fitzgerald restated an “overweight” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Citigroup lifted their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Canaccord Genuity Group lifted their target price on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Morgan Stanley dropped their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.75.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $0.74 during trading on Wednesday, reaching $66.39. The company had a trading volume of 2,055,510 shares, compared to its average volume of 2,982,958. BridgeBio Pharma has a fifty-two week low of $52.75 and a fifty-two week high of $93.42. The stock’s fifty day moving average price is $72.75 and its 200 day moving average price is $73.32. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of -18.60 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analysts’ expectations of $220.91 million. During the same period in the previous year, the company posted ($0.95) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 120.4% on a year-over-year basis. On average, equities analysts anticipate that BridgeBio Pharma will post -2.63 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $69.08, for a total value of $690,800.00. Following the completion of the sale, the chief executive officer owned 495,686 shares in the company, valued at approximately $34,241,988.88. This trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,980 shares of company stock valued at $4,578,119 over the last three months. Insiders own 14.23% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its stake in shares of BridgeBio Pharma by 139.4% during the 1st quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock worth $2,431,000 after purchasing an additional 19,043 shares during the period. Assetmark Inc. boosted its holdings in BridgeBio Pharma by 423.7% during the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock worth $1,544,000 after buying an additional 16,820 shares in the last quarter. Corient Private Wealth LP purchased a new stake in BridgeBio Pharma during the second quarter worth about $1,783,000. EFG International AG purchased a new stake in BridgeBio Pharma during the second quarter worth about $6,117,000. Finally, Squarepoint Ops LLC grew its position in BridgeBio Pharma by 114.2% during the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock worth $88,760,000 after buying an additional 635,408 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biotechnology company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company uses its drug discovery and development platform to advance therapies across areas including rare diseases, genetic disorders and precision oncology, with programs designed to address the underlying biological causes of disease.

BridgeBio operates through a collection of subsidiary companies and development programs. Its portfolio has included therapies for cardiovascular, endocrine, neurological and oncological conditions.