ValuEngine Downgrades BridgeBio Pharma (NASDAQ:BBIO) to Hold

BridgeBio Pharma (NASDAQ:BBIO) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

Several other analysts also recently weighed in on BBIO. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of BridgeBio Pharma in a report on Wednesday, August 12th. BidaskClub upgraded shares of BridgeBio Pharma from a “hold” rating to a “buy” rating in a report on Thursday, September 10th. Zacks Investment Research downgraded shares of BridgeBio Pharma from a “hold” rating to a “sell” rating in a report on Friday, August 14th. BTIG Research assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “buy” rating and a $49.00 price target for the company. Finally, Bank of America assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, June 25th. They issued a “neutral” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.78.

BBIO stock opened at $37.38 on Tuesday. The firm has a market cap of $4.57 billion, a PE ratio of -12.71 and a beta of 0.61. The company has a debt-to-equity ratio of 1.43, a quick ratio of 9.30 and a current ratio of 9.30. The firm’s 50 day moving average price is $29.56 and its 200-day moving average price is $29.56. BridgeBio Pharma has a one year low of $14.23 and a one year high of $48.36.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.27). Equities research analysts predict that BridgeBio Pharma will post -3.65 EPS for the current fiscal year.

In other news, CEO Neil Kumar sold 87,025 shares of BridgeBio Pharma stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $31.09, for a total transaction of $2,705,607.25. Following the completion of the sale, the chief executive officer now directly owns 4,685,725 shares of the company’s stock, valued at approximately $145,679,190.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian C. Stephenson sold 4,661 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $27.27, for a total transaction of $127,105.47. Following the completion of the sale, the insider now directly owns 289,855 shares of the company’s stock, valued at $7,904,345.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,243 shares of company stock valued at $5,053,337. Corporate insiders own 40.32% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BBIO. BlackRock Inc. lifted its position in BridgeBio Pharma by 96.4% in the first quarter. BlackRock Inc. now owns 5,222,598 shares of the company’s stock valued at $151,457,000 after acquiring an additional 2,562,875 shares during the last quarter. SG Americas Securities LLC lifted its position in BridgeBio Pharma by 170.0% in the first quarter. SG Americas Securities LLC now owns 14,792 shares of the company’s stock valued at $429,000 after acquiring an additional 9,314 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in BridgeBio Pharma in the first quarter valued at $447,000. New York State Common Retirement Fund raised its holdings in shares of BridgeBio Pharma by 184.0% in the first quarter. New York State Common Retirement Fund now owns 56,800 shares of the company’s stock valued at $1,647,000 after buying an additional 36,800 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of BridgeBio Pharma by 272.8% in the first quarter. Rhumbline Advisers now owns 105,246 shares of the company’s stock valued at $3,052,000 after buying an additional 77,018 shares during the last quarter. 95.72% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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