BridgeBio Pharma (NASDAQ:BBIO) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIOFree Report) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $43.00 target price on the stock.

BBIO has been the topic of a number of other research reports. UBS Group decreased their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating on the stock in a research note on Tuesday, May 28th. Raymond James began coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They issued an outperform rating and a $45.00 price objective for the company. Citigroup raised their target price on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Evercore ISI began coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They issued an outperform rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BridgeBio Pharma has an average rating of Moderate Buy and a consensus price target of $47.62.

Get Our Latest Analysis on BBIO

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $27.36 on Thursday. The firm’s 50-day moving average is $27.48 and its two-hundred day moving average is $31.89. The company has a market capitalization of $5.12 billion, a PE ratio of -8.50 and a beta of 1.08. BridgeBio Pharma has a 12-month low of $15.35 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The company had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. On average, analysts forecast that BridgeBio Pharma will post -3.2 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $34,000. Quarry LP purchased a new position in shares of BridgeBio Pharma in the fourth quarter valued at $50,000. EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma during the 1st quarter worth $117,000. Assetmark Inc. lifted its holdings in BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in BridgeBio Pharma in the 3rd quarter valued at about $132,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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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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