BridgeBio Pharma (NASDAQ:BBIO) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• BridgeBio Pharma's stock has received a "sell (D-)" rating from Weiss Ratings, signaling a negative outlook according to the analysts.
• Despite the negative rating, the company has seen multiple upgrades, with price targets increased by several institutions, including JPMorgan Chase raising it from $55.00 to $70.00.
• BridgeBio Pharma reported a significant revenue increase of 4999.9% compared to the same quarter last year, although it missed earnings expectations with an EPS of ($0.95).

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

A number of other equities analysts have also issued reports on the company. Raymond James Financial increased their price target on BridgeBio Pharma from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Tuesday. Truist Financial started coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 price target for the company. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Scotiabank increased their price target on BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research note on Wednesday, August 6th. Finally, Oppenheimer increased their price objective on BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Sixteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.25.

BridgeBio Pharma Price Performance

BBIO stock traded up $0.44 on Friday, reaching $54.25. The company's stock had a trading volume of 1,492,681 shares, compared to its average volume of 2,814,917. BridgeBio Pharma has a 52 week low of $21.72 and a 52 week high of $57.49. The company has a market capitalization of $10.37 billion, a P/E ratio of -13.26 and a beta of 1.36. The firm has a fifty day moving average of $52.36 and a two-hundred day moving average of $44.20.

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

Insider Buying and Selling

In other news, CFO Thomas Trimarchi sold 42,237 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the sale, the chief financial officer owned 421,081 shares in the company, valued at $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction 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 sale, the director owned 916,674 shares of the company's stock, valued at $44,000,352. The trade was a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 597,913 shares of company stock valued at $29,034,227. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 5.1% in the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company's stock valued at $158,991,000 after purchasing an additional 178,686 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of BridgeBio Pharma by 27.0% in the second quarter. Invesco Ltd. now owns 2,801,065 shares of the company's stock valued at $120,950,000 after purchasing an additional 594,902 shares in the last quarter. Cormorant Asset Management LP lifted its holdings in shares of BridgeBio Pharma by 25.0% in the first quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company's stock valued at $69,140,000 after purchasing an additional 400,000 shares in the last quarter. Norges Bank purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at $84,488,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the first quarter worth $51,874,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Company Profile

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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