BridgeBio Pharma’s (BBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $120.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on BBIO. Bank of America increased their price objective on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Citigroup raised their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.61.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $72.44 on Thursday. BridgeBio Pharma has a one year low of $48.78 and a one year high of $93.42. The company has a market cap of $14.16 billion, a P/E ratio of -20.29 and a beta of 0.97. The firm’s fifty day moving average price is $80.65 and its two-hundred day moving average price is $73.67.

BridgeBio Pharma (NASDAQ:BBIO) last released 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 business had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter in the prior year, the company posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 120.4% on a year-over-year basis. As a group, equities research analysts expect that BridgeBio Pharma will post -2.64 earnings per share for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Jennifer Cook sold 148,589 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at $742,230.82. This represents a 94.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,808 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total transaction of $190,944.00. Following the completion of the transaction, the director owned 11,455 shares of the company’s stock, valued at approximately $778,940. This trade represents a 19.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 347,343 shares of company stock worth $27,591,000. Company insiders own 14.23% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the 2nd quarter worth approximately $28,000. Allworth Financial LP bought a new position in BridgeBio Pharma during the second quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma during the third quarter worth $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the first quarter valued at $35,000. Finally, Global Retirement Partners LLC lifted its holdings in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.