BridgeBio Pharma (NASDAQ:BBIO) Raised to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) to a strong-buy rating in a report published on Monday, Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Mizuho decreased their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a buy rating for the company in a report on Tuesday, March 5th. HC Wainwright reaffirmed a buy rating and set a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. Citigroup increased their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a buy rating in a research note on Friday, February 23rd. Raymond James started coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They set an outperform rating and a $45.00 target price for the company. Finally, Cantor Fitzgerald boosted their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of Moderate Buy and a consensus price target of $48.00.

BridgeBio Pharma Stock Up 3.5 %

Shares of NASDAQ BBIO opened at $29.97 on Monday. The stock’s fifty day simple moving average is $27.83 and its 200 day simple moving average is $31.99. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -9.31 and a beta of 1.08. BridgeBio Pharma has a 52-week low of $12.75 and a 52-week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. BridgeBio Pharma’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm posted ($0.92) EPS. As a group, analysts anticipate that BridgeBio Pharma will post -3.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.52% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. YHB Investment Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth $34,000. Quarry LP bought a new stake in BridgeBio Pharma during the fourth quarter worth about $50,000. Assetmark Inc. purchased a new position in shares of BridgeBio Pharma in the 3rd quarter worth about $53,000. EntryPoint Capital LLC bought a new position in shares of BridgeBio Pharma during the 1st quarter valued at about $117,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $132,000. 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.