HC Wainwright & Co. maintained its BridgeBio Pharma [BBIO] rating to the equivalent of Buy but changed the price target to $87.0 from $64, in a research note dated 2021-01-11. That figure represents around a 32.8% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with BofA/Merrill’s analysts assigning the shares to “a Neutral” rating in a research note to investors issued in late June. Meanwhile, BTIG Research had launched its coverage on BBIO with “Buy”, in a research note produced for clients May 19, 2020. In addition, H.C. Wainwright launched coverage on April 13, 2020. The research firm rated BBIO “a Buy”.
Is BridgeBio Pharma Inc. [NASDAQ:BBIO] a Good Buy Right Now?
It should be noted that BBIO technical indicators for short, intermediate as well as long term progress have placed an overall average of 96% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from BridgeBio Pharma Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is 0.66 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.64 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.68 million shares.
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BBIO Price Performance
On Wall Street, BridgeBio Pharma Inc. [NASDAQ:BBIO] finished Friday’s session up 1.08% at $65.51. The stock went up to $66.63 at the same session while its lowest single day price was $62.94. In the last five days, it saw a fall of about -7.88%, BridgeBio Pharma Inc. shares dropped by almost -7.88% since the beginning of the year. However, the share price has dropped to as low as -8.81% below its one year high. On 01/04/21, the company shares recorded $71.84, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $62.74. The company’s shares have inclined by 95.20% in the past year. The 50-day SMA achieved is $53.17 while the 200-day SMA is $37.27. Volume dropped to 0.6 million from 0.79 million in the previous session.
BBIO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 63.42 level, and in case of violation of this particular level, it will cause more drop to 61.34 level. On the upper level, 68.72 is still the key resistance. The stock may increase to the subsequent resistance at 67.11. The Relative Strength Index (RSI) pinned on the 14-day chart is 60.12, implying a neutral technical stance while the MACD stands at -2.20, meaning price will decrease in the next trading period. Percent R indicator moved to 69.54%, implying low price movement. Stochastic %K at 34.38% suggest selling the stock.
What is the short interest in BridgeBio Pharma Inc.?
Short interest in the BridgeBio Pharma Inc. stock has plunged, decreasing by -0.2 million shares to total 10.98 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 10.78 million, data from Yahoo Finance shows. The increase of 1.82% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 21.41% of the overall float for the stock.
BridgeBio Pharma Inc.’s Biggest Shareholders: Who Owns BridgeBio Pharma Inc. [BBIO]?
Filings by Viking Global Investors LP showed that the firm now holds a total of 26,620,991 shares or roughly 21.72% of the outstanding BBIO shares. This means their shares have reduced by 0 from the 26,620,991 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Perceptive Advisors LLC updated stake is worth $336,922,904. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 8.61% stake valued at $307,434,486 while AIG Asset Management cut theirs at $280,157,331. During the last quarter, The Vanguard Group, Inc. raised 485,330 of its shares in BridgeBio Pharma Inc. The BlackRock Fund Advisors’s holdings currently number 5,452,209 shares at $357174211.59. According to the firm’s last 13F report, Hillhouse Capital Advisors Ltd. shares in the company at filing stood at 4,711,604 shares, roughly $236,710,985.
BBIO Earnings Forecast For The Current Quarter
BridgeBio Pharma Inc. [BBIO] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $16.93M and an earnings per share of -$0.84 for Dec 2020. Looking further ahead, the company is expected to report revenue of $7.32M at an EPS of -$0.94 for Mar 2021. The estimates represent upside of 248.60% and 7.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
BBIO Earnings Estimates For The Current Year
For the financial year, BridgeBio Pharma Inc. [NASDAQ:BBIO] is expected to bring in revenue of $24.13M. The returns are nearly $-16.43 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -3.54, lower than that of FY19 by -$1.06. Estimates put this year’s earnings growth at -42.70%, 7.60% for the next, and at an annual -64.40% over the next 5-year period. As for sales, forecasts are for a decrease of -40.50% in the current fiscal year and a further 248.60% over the following year.