BridgeBio Pharma (NASDAQ:BBIO) Earns “Overweight” Rating from Cantor Fitzgerald

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Friday,Benzinga reports. They currently have a $95.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 156.44% from the company’s previous close.

Several other research firms have also commented on BBIO. Scotiabank raised their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI raised their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Bank of America raised their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $51.42.

BridgeBio Pharma Stock Up 0.6 %

Shares of BBIO traded up $0.24 during trading on Friday, reaching $37.05. 855,062 shares of the company traded hands, compared to its average volume of 2,882,511. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.47. The stock has a market cap of $7.00 billion, a PE ratio of -15.40 and a beta of 1.07. The stock has a 50-day simple moving average of $31.71 and a 200-day simple moving average of $27.85.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts predict that BridgeBio Pharma will post -2.56 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,148 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares in the company, valued at approximately $3,705,098.24. The trade was a 3.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 31,543 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the sale, the chief executive officer now owns 211,718 shares of the company’s stock, valued at $7,651,488.52. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,496,239 shares of company stock worth $122,612,036. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently modified their holdings of the stock. Ironwood Investment Management LLC increased its holdings in shares of BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after acquiring an additional 338 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after acquiring an additional 466 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the period. Mackenzie Financial Corp increased its holdings in shares of BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after acquiring an additional 592 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after acquiring an additional 801 shares during the period. Hedge funds and other 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.