BridgeBio Pharma (NASDAQ:BBIO) Earns “Overweight” Rating from Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $95.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 156.44% from the stock’s current price.

Several other equities analysts have also recently issued reports on BBIO. Bank of America boosted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday. Evercore ISI boosted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.42.

BridgeBio Pharma Stock Performance

BBIO traded up $0.24 during trading on Friday, hitting $37.05. The stock had a trading volume of 855,062 shares, compared to its average volume of 2,882,511. The firm has a market capitalization of $7.00 billion, a P/E ratio of -15.40 and a beta of 1.07. The company’s 50-day moving average price is $31.71 and its 200 day moving average price is $27.85. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts expect that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock worth $122,612,036 in the last three months. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after purchasing an additional 879,059 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock valued at $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after acquiring an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock valued at $96,774,000 after acquiring an additional 912,439 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.