BridgeBio Pharma (NASDAQ:BBIO) Receives New Coverage from Analysts at Mizuho

Mizuho initiated coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Wednesday morning, Analyst Ratings Network reports. The brokerage issued a buy rating and a $86.00 target price on the stock.

BBIO has been the subject of several other research reports. Bank of America raised shares of BridgeBio Pharma from a neutral rating to a buy rating and set a $75.00 target price for the company in a report on Friday, September 10th. Zacks Investment Research raised shares of BridgeBio Pharma from a hold rating to a buy rating and set a $53.00 price objective for the company in a report on Tuesday, October 5th. Finally, SVB Leerink increased their price objective on shares of BridgeBio Pharma from $66.00 to $68.00 and gave the company an outperform rating in a report on Monday, October 4th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of Buy and a consensus price target of $75.90.

Shares of BridgeBio Pharma stock opened at $48.55 on Wednesday. The company has a market capitalization of $7.27 billion, a P/E ratio of -12.68 and a beta of 0.79. The company has a fifty day moving average of $49.55 and a 200 day moving average of $54.94. BridgeBio Pharma has a fifty-two week low of $37.29 and a fifty-two week high of $73.50.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, August 5th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.31. The company had revenue of $54.00 million during the quarter, compared to the consensus estimate of $24.93 million. BridgeBio Pharma had a negative net margin of 789.46% and a negative return on equity of 805.16%. The company’s quarterly revenue was up 5399900.0% compared to the same quarter last year. As a group, analysts anticipate that BridgeBio Pharma will post -3.68 earnings per share for the current fiscal year.

In related news, insider Richard H. Scheller sold 13,777 shares of the stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $53.23, for a total transaction of $733,349.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Bessemer Group Inc. acquired a new stake in shares of BridgeBio Pharma in the first quarter worth approximately $107,000. E Fund Management Co. Ltd. acquired a new position in BridgeBio Pharma during the first quarter valued at approximately $120,000. Advisor Group Holdings Inc. lifted its position in BridgeBio Pharma by 20.5% during the second quarter. Advisor Group Holdings Inc. now owns 2,007 shares of the company’s stock valued at $122,000 after buying an additional 341 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in BridgeBio Pharma during the second quarter valued at approximately $167,000. Finally, Penserra Capital Management LLC raised its stake in shares of BridgeBio Pharma by 19.1% during the first quarter. Penserra Capital Management LLC now owns 3,365 shares of the company’s stock valued at $207,000 after purchasing an additional 540 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc engages in identifying and advancing transformative medicines to treat patients who suffer from Mendelian diseases. Its pipeline of development programs includes product candidates ranging from early discovery to late-stage development. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly, and Neil Kumar in 2015 and is headquartered in Palo Alto, CA.

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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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