BridgeBio Pharma (NASDAQ:BBIO) PT Lowered to $47.00 at UBS Group

BridgeBio Pharma (NASDAQ:BBIOFree Report) had its target price reduced by UBS Group from $51.00 to $47.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They set a market perform rating and a $37.00 price objective for the company. HC Wainwright cut their target price on shares of BridgeBio Pharma from $47.00 to $43.00 and set a buy rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Raymond James started coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They set an outperform rating and a $45.00 target price for the company. Finally, Evercore ISI began coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They set an outperform rating and a $50.00 target price for the company. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $47.62.

Check Out Our Latest Stock Analysis on BridgeBio Pharma

BridgeBio Pharma Stock Up 4.5 %

Shares of BridgeBio Pharma stock opened at $28.85 on Tuesday. The firm’s 50 day moving average price is $27.90 and its 200-day moving average price is $32.07. BridgeBio Pharma has a 52-week low of $13.26 and a 52-week high of $44.32. The company has a market cap of $5.40 billion, a P/E ratio of -8.96 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The company had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. As a group, equities research analysts forecast that BridgeBio Pharma will post -3.2 EPS for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently modified their holdings of BBIO. YHB Investment Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the first quarter worth $34,000. Quarry LP purchased a new position in BridgeBio Pharma during the fourth quarter worth approximately $50,000. EntryPoint Capital LLC acquired a new stake in BridgeBio Pharma during the first quarter worth about $117,000. Assetmark Inc. grew its holdings in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $132,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

(Get Free Report)

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.

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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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