BridgeBio Pharma (NASDAQ:BBIO) Price Target Lowered to $42.00 at Bank of America

BridgeBio Pharma (NASDAQ:BBIO) had its target price lowered by Bank of America from $50.00 to $42.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently weighed in on BBIO. HC Wainwright reaffirmed a buy rating and set a $43.00 price target on shares of BridgeBio Pharma in a research note on Thursday, June 20th. UBS Group lowered their target price on BridgeBio Pharma from $51.00 to $47.00 and set a buy rating for the company in a report on Tuesday, May 28th. Cantor Fitzgerald restated an overweight rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. Finally, Mizuho cut their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a buy rating on the stock in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of Moderate Buy and a consensus target price of $47.21.

BridgeBio Pharma Stock Up 0.5 %

Shares of BridgeBio Pharma stock opened at $25.33 on Tuesday. The stock’s fifty day moving average is $27.38 and its two-hundred day moving average is $31.59. BridgeBio Pharma has a 52 week low of $16.61 and a 52 week high of $44.32. The company has a market capitalization of $4.74 billion, a PE ratio of -7.87 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The company had revenue of $211.12 million during the quarter, compared to the consensus estimate of $140.06 million. As a group, research analysts anticipate that BridgeBio Pharma will post -3.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the transaction, the director now owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently made changes to their positions in BBIO. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma in the first quarter valued at approximately $34,000. Quarry LP acquired a new stake in BridgeBio Pharma during the 4th quarter valued at approximately $50,000. Assetmark Inc. boosted its holdings in shares of BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after acquiring an additional 935 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of BridgeBio Pharma in the first quarter worth $117,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of BridgeBio Pharma during the third quarter worth $132,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.