BridgeBio Pharma (NASDAQ:BBIO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of BridgeBio Pharma (NASDAQ:BBIO) from a sell rating to a hold rating in a research note released on Thursday morning, 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. “

BBIO has been the topic of a number of other reports. UBS Group started coverage on BridgeBio Pharma in a research note on Tuesday, December 3rd. They set a reduce rating on the stock. Piper Jaffray Companies dropped coverage on BridgeBio Pharma in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned 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.

Shares of NASDAQ BBIO opened at $33.02 on Thursday. The firm’s 50-day moving average is $25.84. BridgeBio Pharma has a 1-year low of $17.61 and a 1-year high of $35.67. The company has a current ratio of 14.00, a quick ratio of 14.00 and a debt-to-equity ratio of 0.14.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.04. The company had revenue of $26.74 million for the quarter. Equities analysts anticipate that BridgeBio Pharma will post -3.08 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tiverton Asset Management LLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $76,000. Strs Ohio bought a new stake in BridgeBio Pharma during the third quarter worth $126,000. Point72 Hong Kong Ltd purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at $255,000. Bank of Montreal Can purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at $270,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in BridgeBio Pharma in the 3rd quarter valued at $233,000. Hedge funds and other institutional investors own 83.46% 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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