BridgeBio Pharma (NASDAQ:BBIO) Earns Overweight Rating from Analysts at Barclays

Barclays began coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of BridgeBio Pharma in a report on Monday, November 3rd. Truist Financial increased their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. The Goldman Sachs Group lifted their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald upped their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Twenty-two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.05.

BridgeBio Pharma Stock Down 2.3%

Shares of NASDAQ:BBIO opened at $77.27 on Wednesday. The company has a market capitalization of $14.89 billion, a P/E ratio of -18.49 and a beta of 1.17. BridgeBio Pharma has a 52-week low of $28.33 and a 52-week high of $81.32. The stock’s fifty day simple moving average is $75.39 and its 200-day simple moving average is $61.21.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. The company’s revenue was up 4318.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.86) earnings per share. On average, sell-side analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Andrew Lo sold 55,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the transaction, the director owned 50,583 shares in the company, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hannah Valantine sold 25,484 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $66.07, for a total value of $1,683,727.88. Following the sale, the director owned 7,465 shares of the company’s stock, valued at $493,212.55. This represents a 77.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 387,215 shares of company stock worth $26,255,694. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of BridgeBio Pharma during the 2nd quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth $34,000. Finally, First Horizon Corp acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.