BridgeBio Pharma (NASDAQ:BBIO) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued a market perform rating on the stock.

BBIO has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Evercore ISI cut their target price on BridgeBio Pharma from $50.00 to $45.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an overweight rating and a $46.00 target price for the company. HC Wainwright reissued a buy rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 30th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of Moderate Buy and an average price target of $47.92.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $25.23 on Thursday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The business’s fifty day moving average is $26.08 and its 200-day moving average is $26.93. The stock has a market cap of $4.72 billion, a PE ratio of -7.84 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the firm earned ($0.98) earnings per share. BridgeBio Pharma’s revenue was up 32.1% on a year-over-year basis. Equities research analysts predict that BridgeBio Pharma will post -2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock worth $150,128,821 in the last quarter. 24.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Profund Advisors LLC increased its position in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. raised its stake in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after acquiring an additional 565 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in BridgeBio Pharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after purchasing an additional 734 shares during the last quarter. Bfsg LLC boosted its position in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Finally, Amalgamated Bank grew its holdings in BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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.