BridgeBio Pharma (NASDAQ:BBIO) Price Target Cut to $43.00 by Analysts at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIOFree Report) had its price objective cut by HC Wainwright from $47.00 to $43.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on BBIO. Evercore ISI assumed coverage on BridgeBio Pharma in a research report on Tuesday, May 14th. They set an outperform rating and a $50.00 target price for the company. Cantor Fitzgerald upped their target price on BridgeBio Pharma from $60.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, March 19th. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a market perform rating and a $37.00 price target on the stock. Raymond James started coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They set an outperform rating and a $45.00 price objective for the company. Finally, Mizuho dropped their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a buy rating on the stock in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of Moderate Buy and an average price target of $47.67.

Read Our Latest Analysis on BBIO

BridgeBio Pharma Trading Down 1.9 %

Shares of BBIO stock opened at $29.52 on Monday. The business’s 50-day moving average price is $27.88 and its 200-day moving average price is $32.12. BridgeBio Pharma has a 12 month low of $12.75 and a 12 month high of $44.32. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -9.17 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last posted 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 company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. During the same quarter in the previous year, the company posted ($0.92) EPS. BridgeBio Pharma’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts predict that BridgeBio Pharma will post -3.24 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma 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 transaction, the director now owns 6,500 shares in the company, valued at $221,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 28.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new position in BridgeBio Pharma during the first quarter worth $34,000. Quarry LP bought a new position in BridgeBio Pharma in the 4th quarter valued at about $50,000. EntryPoint Capital LLC acquired a new position in BridgeBio Pharma during the 1st quarter valued at about $117,000. Assetmark Inc. increased its holdings in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BridgeBio Pharma in the third quarter worth approximately $132,000. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

(Get Free Report)

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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