Oppenheimer Cuts BridgeBio Pharma (NASDAQ:BBIO) Price Target to $81.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective cut by Oppenheimer from $83.00 to $81.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Truist Financial raised their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Barclays initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 28th. They issued an “overweight” rating for the company. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Finally, HC Wainwright upped their price objective on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

BridgeBio Pharma Trading Down 1.7%

NASDAQ:BBIO opened at $66.48 on Wednesday. The company has a market capitalization of $12.89 billion, a P/E ratio of -17.59 and a beta of 1.13. The firm has a 50-day moving average price of $74.76 and a two-hundred day moving average price of $64.69. BridgeBio Pharma has a twelve month low of $28.33 and a twelve month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. During the same quarter in the previous year, the company earned ($1.40) EPS. BridgeBio Pharma’s revenue was up 2521.2% on a year-over-year basis. On average, equities research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 28,053 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the completion of the transaction, the chief executive officer owned 234,451 shares of the company’s stock, valued at approximately $16,737,456.89. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the transaction, the chief financial officer owned 336,585 shares in the company, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 204,174 shares of company stock valued at $15,012,335 in the last ninety days. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently modified their holdings of BBIO. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after purchasing an additional 347,074 shares during the period. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after buying an additional 2,259,378 shares during the period. Farallon Capital Management LLC lifted its position in BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after buying an additional 806,463 shares in the last quarter. Aisling Capital Management LP grew its stake in BridgeBio Pharma by 0.4% during the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after buying an additional 21,486 shares during the period. Finally, Invesco Ltd. increased its position in shares of BridgeBio Pharma by 23.0% in the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.