BridgeBio Pharma (NASDAQ:BBIO) Coverage Initiated by Analysts at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $50.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Evercore ISI boosted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Finally, Scotiabank upped their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.64.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $34.62 on Monday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The business has a 50-day moving average of $34.19 and a 200 day moving average of $29.43. The firm has a market cap of $6.58 billion, a P/E ratio of -12.15 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share 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 analysts’ expectations of $4.04 million. As a group, research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,654,739 shares of company stock valued at $325,937,151 over the last three months. 24.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BBIO. California State Teachers Retirement System lifted its position in BridgeBio Pharma by 6.8% during the fourth quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock valued at $3,174,000 after buying an additional 7,388 shares during the period. Jefferies Financial Group Inc. bought a new stake in BridgeBio Pharma during the fourth quarter worth about $5,076,000. Mackenzie Financial Corp grew its holdings in BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after purchasing an additional 592 shares during the period. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma in the fourth quarter worth about $109,000. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after purchasing an additional 40,000 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, 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.