BridgeBio Pharma (NASDAQ:BBIO) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $46.00 price objective on the stock.

Several other brokerages have also weighed in on BBIO. Bank of America lowered their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a buy rating for the company in a report on Tuesday, June 25th. Cantor Fitzgerald reissued an overweight rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, July 1st. HC Wainwright reissued a buy rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating for the company in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $47.92.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $30.70 on Wednesday. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of -9.53 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The stock’s 50-day simple moving average is $26.18 and its 200-day simple moving average is $27.69.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.98) earnings per share. As a group, research analysts predict that BridgeBio Pharma will post -2.46 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after purchasing an additional 2,169,143 shares in the last quarter. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after purchasing an additional 1,524,313 shares in the last quarter. Norges Bank bought a new stake in BridgeBio Pharma during the fourth quarter worth approximately $46,843,000. Capital Research Global Investors raised its holdings in BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after purchasing an additional 1,111,975 shares in the last quarter. Finally, UBS Group AG raised its holdings in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after purchasing an additional 832,940 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.