BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $49.00 price target on the stock. Wolfe Research's target price points to a potential upside of 19.11% from the company's current price.

A number of other analysts have also recently commented on the stock. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 target price for the company. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Piper Sandler upped their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.67.

BridgeBio Pharma Trading Up 3.4%

Shares of BBIO stock opened at $41.14 on Tuesday. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $41.69. The stock has a fifty day simple moving average of $35.51 and a two-hundred day simple moving average of $33.26. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. The business's quarterly revenue was down 44.8% on a year-over-year basis. During the same period last year, the firm earned ($0.20) EPS. Research analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the completion of the sale, the chief accounting officer now directly owns 147,639 shares of the company's stock, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hannah Valantine sold 4,292 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $40.00, for a total transaction of $171,680.00. Following the transaction, the director now directly owns 1,764 shares in the company, valued at $70,560. The trade was a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,396,474 shares of company stock worth $219,332,971 over the last 90 days. 18.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of BBIO. Rhumbline Advisers grew its stake in shares of BridgeBio Pharma by 2.3% during the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company's stock worth $6,013,000 after purchasing an additional 5,007 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of BridgeBio Pharma by 21.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company's stock valued at $2,556,000 after purchasing an additional 16,545 shares during the period. Handelsbanken Fonder AB boosted its holdings in BridgeBio Pharma by 16.6% during the fourth quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company's stock worth $1,041,000 after buying an additional 5,400 shares in the last quarter. First Bank & Trust purchased a new stake in BridgeBio Pharma during the fourth quarter worth about $205,000. Finally, Y Intercept Hong Kong Ltd grew its position in BridgeBio Pharma by 95.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 25,980 shares of the company's stock worth $713,000 after buying an additional 12,701 shares during the period. 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.

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