BridgeBio Pharma (NASDAQ:BBIO) Upgraded to Hold by Zacks Investment Research

BridgeBio Pharma (NASDAQ:BBIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “BridgeBio Pharma Inc. discovers, develops and innovates drugs for genetic diseases. The Company’s product platform consists of Mendelian, Oncology and Gene therapy. Its product pipeline includes BBP-265, BBP-831, BBP-631 and BBP-454 which are in clinical stage. BridgeBio Pharma Inc. is based in CA, United States. “

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “overweight” rating and a $38.00 target price for the company. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $49.00 target price for the company. Leerink Swann started coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $34.00 target price for the company. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set a “buy” rating and a $38.00 target price for the company. Finally, Goldman Sachs Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.13.

Shares of NASDAQ BBIO traded up $1.22 during midday trading on Tuesday, hitting $30.29. The company had a trading volume of 297,694 shares, compared to its average volume of 277,550. The company has a quick ratio of 14.00, a current ratio of 14.00 and a debt-to-equity ratio of 0.14. BridgeBio Pharma has a twelve month low of $17.61 and a twelve month high of $32.94. The firm has a 50-day simple moving average of $21.53.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.51) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.04. The company had revenue of $26.74 million during the quarter. Equities research analysts expect that BridgeBio Pharma will post -3.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tiverton Asset Management LLC purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $76,000. Strs Ohio purchased a new stake in BridgeBio Pharma in the third quarter valued at approximately $126,000. Point72 Hong Kong Ltd purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $255,000. Bank of Montreal Can purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $270,000. Finally, Point72 Asset Management L.P. purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $356,000. Institutional investors and hedge funds own 82.32% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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