HC Wainwright Reiterates “Buy” Rating for BridgeBio Pharma (NASDAQ:BBIO)

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $110.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 65.56% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Truist Financial increased their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price on the stock. Leerink Partners reiterated an “outperform” rating and set a $98.00 target price on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, Morgan Stanley increased their target price on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Twenty-two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.90.

BridgeBio Pharma Price Performance

BBIO stock opened at $66.44 on Thursday. The company has a market capitalization of $13.01 billion, a PE ratio of -17.76 and a beta of 1.02. BridgeBio Pharma has a 12 month low of $31.77 and a 12 month high of $84.94. The firm’s 50-day moving average is $71.20 and its 200 day moving average is $72.05.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.88) earnings per share. Sell-side analysts forecast that BridgeBio Pharma will post -2.27 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00. Following the completion of the transaction, the chief executive officer directly owned 615,686 shares in the company, valued at $45,942,489.32. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 64,921 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the transaction, the director owned 18,589 shares of the company’s stock, valued at approximately $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 236,675 shares of company stock worth $16,177,085 in the last ninety days. 14.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma in the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma in the 3rd quarter worth $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the 1st quarter worth $35,000. Huntington National Bank increased its holdings in BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after acquiring an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.