BridgeBio Pharma (NASDAQ:BBIO) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of BridgeBio Pharma (NASDAQ:BBIO - Free Report) in a report issued on Tuesday, Benzinga reports. The brokerage issued an outperform rating and a $50.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald boosted their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. BMO Capital Markets began coverage on BridgeBio Pharma in a report on Wednesday, January 31st. They set a market perform rating and a $37.00 price objective on the stock. Raymond James started coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They set an outperform rating and a $45.00 target price for the company. Finally, Citigroup raised their target price on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a buy rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $48.00.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded up $0.45 during mid-day trading on Tuesday, hitting $28.95. The company's stock had a trading volume of 1,024,684 shares, compared to its average volume of 1,699,028. BridgeBio Pharma has a one year low of $12.75 and a one year high of $44.32. The company's fifty day simple moving average is $27.83 and its 200-day simple moving average is $31.98. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of -8.90 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. During the same period last year, the firm earned ($0.92) EPS. The business's revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma will post -3.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares of the company's stock, valued at approximately $221,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 28.52% of the company's stock.

Institutional Trading of BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in BBIO. YHB Investment Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $34,000. Quarry LP acquired a new stake in shares of BridgeBio Pharma in the fourth quarter valued at approximately $50,000. Assetmark Inc. bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $53,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of BridgeBio Pharma by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company's stock worth $110,000 after acquiring an additional 2,067 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $117,000. Institutional investors and hedge funds 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.