BridgeBio Pharma (NASDAQ:BBIO) Given New $46.00 Price Target at Leerink Partners

BridgeBio Pharma (NASDAQ:BBIO) had its target price lowered by Leerink Partners from $47.00 to $46.00 in a report released on Thursday morning, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday. They set a “sector outperform” rating and a $44.00 target price for the company. Bank of America reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 30th. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Finally, Cantor Fitzgerald reiterated 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 thirteen have assigned a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

BridgeBio Pharma Stock Down 0.6 %

Shares of NASDAQ BBIO opened at $26.19 on Thursday. The stock’s 50 day moving average price is $26.05 and its 200-day moving average price is $26.66. The company has a market capitalization of $4.90 billion, a PE ratio of -8.13 and a beta of 1.08. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same quarter in the previous 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. As a group, research analysts expect that BridgeBio Pharma will post -2.56 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 in the last three months. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in BBIO. Wellington Management Group LLP boosted its position in shares of BridgeBio Pharma by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after acquiring an additional 75,564 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of BridgeBio Pharma by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after purchasing an additional 145,594 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares in the last quarter. Comerica Bank boosted its stake in BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after buying an additional 37,277 shares during the last quarter. Finally, Swiss National Bank grew its holdings in BridgeBio Pharma by 17.0% during the 1st quarter. Swiss National Bank now owns 206,000 shares of the company’s stock valued at $6,370,000 after buying an additional 29,900 shares in the last quarter. 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.