BridgeBio Pharma (NASDAQ:BBIO) Upgraded to Hold by Zacks Investment Research

BridgeBio Pharma (NASDAQ:BBIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group began coverage on BridgeBio Pharma in a research report on Monday, July 22nd. They issued a “buy” rating and a $38.00 target price for the company. Goldman Sachs Group started coverage on BridgeBio Pharma in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 price objective for the company. Piper Jaffray Companies dropped coverage on BridgeBio Pharma in a research report on Friday, October 18th. BMO Capital Markets started coverage on BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $49.00 price objective for the company. Finally, Leerink Swann started coverage on BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $34.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.13.

BBIO traded down $0.31 during trading on Monday, reaching $26.75. The stock had a trading volume of 196,745 shares, compared to its average volume of 278,473. BridgeBio Pharma has a 1-year low of $17.61 and a 1-year high of $32.94. The stock has a 50 day simple moving average of $20.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, November 7th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The firm had revenue of $26.74 million during the quarter. As a group, research analysts predict that BridgeBio Pharma will post -2.35 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tiverton Asset Management LLC acquired a new position in shares of BridgeBio Pharma in the second quarter worth $76,000. Strs Ohio acquired a new position in shares of BridgeBio Pharma in the third quarter worth $126,000. Point72 Hong Kong Ltd acquired a new position in shares of BridgeBio Pharma in the second quarter worth $255,000. Bank of Montreal Can acquired a new position in shares of BridgeBio Pharma in the second quarter worth $270,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of BridgeBio Pharma in the second quarter worth $356,000. Institutional investors own 85.34% of the company’s stock.

BridgeBio Pharma Company Profile

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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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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