BridgeBio Pharma (NASDAQ:BBIO) Given Sell (D-) Rating at Weiss Ratings

Key Points

• BridgeBio Pharma has been given a "sell (D-)" rating by Weiss Ratings, reflecting concerns about the company's stock performance.
• Despite the negative rating, other analysts like Oppenheimer and Piper Sandler have set higher price targets, with approximately 17 analysts rating the stock as a "buy."
• The company reported a significant revenue increase of 4999.9% compared to the same quarter last year, despite missing earnings estimates.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research analysts also recently commented on BBIO. Oppenheimer increased their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Raymond James Financial started coverage on shares of BridgeBio Pharma in a research note on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price target for the company. Jefferies Financial Group assumed coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 15th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.94.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $1.08 during midday trading on Wednesday, hitting $55.30. The company had a trading volume of 2,218,156 shares, compared to its average volume of 2,877,286. The company has a market cap of $10.57 billion, a price-to-earnings ratio of -13.52 and a beta of 1.36. BridgeBio Pharma has a 12-month low of $21.72 and a 12-month high of $55.33. The company has a fifty day moving average of $50.59 and a two-hundred day moving average of $42.55.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. During the same period last year, the business earned ($0.39) EPS. BridgeBio Pharma's quarterly revenue was up 4999.9% compared to the same quarter last year. Research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Charles J. Homcy sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the completion of the transaction, the director owned 916,674 shares of the company's stock, valued at $44,000,352. This trade represents a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Maricel Apuli sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the completion of the transaction, the chief accounting officer directly owned 141,859 shares of the company's stock, valued at $6,446,072.96. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 557,913 shares of company stock worth $26,843,027 in the last 90 days. Corporate insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of BBIO. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 5,811.5% during the 1st quarter. GAMMA Investing LLC now owns 31,804 shares of the company's stock worth $1,099,000 after acquiring an additional 31,266 shares in the last quarter. Rhumbline Advisers raised its stake in BridgeBio Pharma by 0.5% during the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after acquiring an additional 1,008 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in BridgeBio Pharma by 4,544.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company's stock worth $38,751,000 after acquiring an additional 1,096,799 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in BridgeBio Pharma by 29.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock worth $1,065,000 after acquiring an additional 6,997 shares in the last quarter. Finally, Diversified Trust Co raised its stake in BridgeBio Pharma by 25.3% during the 1st quarter. Diversified Trust Co now owns 34,866 shares of the company's stock worth $1,205,000 after acquiring an additional 7,039 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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