BridgeBio Pharma (NASDAQ:BBIO) Rating Reiterated by HC Wainwright

HC Wainwright reissued their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research note published on Monday, Benzinga reports. They currently have a $43.00 price target on the stock. HC Wainwright also issued estimates for BridgeBio Pharma’s Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.90) EPS, FY2024 earnings at ($2.50) EPS, Q1 2025 earnings at ($0.91) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.89) EPS and FY2025 earnings at ($3.53) EPS.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, July 1st. UBS Group lowered their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a buy rating for the company in a research report on Tuesday, May 28th. Bank of America dropped their price objective on shares of BridgeBio Pharma from $50.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, June 25th. Finally, Evercore ISI assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They issued an outperform rating and a $50.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $48.09.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $23.92 on Monday. The company has a market capitalization of $4.48 billion, a PE ratio of -7.43 and a beta of 1.06. The company has a 50 day moving average price of $26.56 and a 200-day moving average price of $29.07. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same period last year, the firm earned ($0.98) earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts forecast that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bfsg LLC grew its holdings in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma during the 1st quarter valued at about $34,000. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma in the second quarter valued at about $48,000. Quarry LP purchased a new position in shares of BridgeBio Pharma in the fourth quarter worth about $50,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of BridgeBio Pharma during the first quarter worth about $117,000. 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.