According to Zacks, “BridgeBio Pharma Inc. discovers, develops and innovates drugs for genetic diseases. The Company’s product platform consists of Mendelian, Oncology and Gene therapy. Its product pipeline includes BBP-265, BBP-831, BBP-631 and BBP-454 which are in clinical stage. BridgeBio Pharma Inc. is based in CA, United States. “
Several other brokerages have also recently weighed in on BBIO. Bank of America began coverage on BridgeBio Pharma in a research note on Thursday, June 25th. They issued a neutral rating and a $38.00 price target on the stock. HC Wainwright reissued a buy rating and issued a $50.00 target price on shares of BridgeBio Pharma in a report on Thursday, June 11th. SVB Leerink decreased their price objective on BridgeBio Pharma from $41.00 to $39.00 and set an outperform rating on the stock in a research note on Thursday, May 14th. ValuEngine raised BridgeBio Pharma from a hold rating to a buy rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $38.00 to $43.00 and gave the company an overweight rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $43.58.
BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.09). Research analysts forecast that BridgeBio Pharma will post -3.09 earnings per share for the current year.
In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 2,389,690 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $33.39, for a total value of $79,791,749.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cameron Turtle sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $27.04, for a total transaction of $216,320.00. Following the completion of the transaction, the insider now owns 17,823 shares of the company’s stock, valued at $481,933.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,497,619 shares of company stock valued at $83,076,336. 40.32% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in BBIO. New York State Common Retirement Fund grew its stake in BridgeBio Pharma by 13.0% in the 4th quarter. New York State Common Retirement Fund now owns 20,000 shares of the company’s stock valued at $701,000 after buying an additional 2,300 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of BridgeBio Pharma by 15.1% during the 4th quarter. Rhumbline Advisers now owns 28,228 shares of the company’s stock worth $989,000 after acquiring an additional 3,696 shares during the period. State Street Corp lifted its holdings in shares of BridgeBio Pharma by 129.9% during the 4th quarter. State Street Corp now owns 808,243 shares of the company’s stock worth $28,329,000 after acquiring an additional 456,605 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 133,031 shares of the company’s stock worth $4,663,000 after acquiring an additional 6,788 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in BridgeBio Pharma by 136.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,097 shares of the company’s stock valued at $38,000 after purchasing an additional 634 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.
About BridgeBio Pharma
BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.
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