BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $50.00

BridgeBio Pharma (NASDAQ:BBIO) had its price target increased by Evercore ISI from $45.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on BBIO. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Scotiabank lifted their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Finally, Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Stock Up 2.7 %

Shares of BridgeBio Pharma stock opened at $28.53 on Monday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The stock has a market cap of $5.39 billion, a PE ratio of -11.84 and a beta of 1.08. The business has a fifty day simple moving average of $25.89 and a 200-day simple moving average of $26.07.

Insider Activity

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the business. Bfsg LLC lifted its holdings in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BridgeBio Pharma by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,072 shares of the company’s stock valued at $635,000 after purchasing an additional 3,122 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in BridgeBio Pharma by 75.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 727,963 shares of the company’s stock valued at $18,439,000 after purchasing an additional 312,686 shares during the period. Principal Financial Group Inc. boosted its holdings in BridgeBio Pharma by 4.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,125,145 shares of the company’s stock valued at $28,500,000 after purchasing an additional 51,958 shares during the period. Finally, Mizuho Markets Americas LLC grew its position in BridgeBio Pharma by 13.0% in the 2nd quarter. Mizuho Markets Americas LLC now owns 83,982 shares of the company’s stock worth $2,127,000 after purchasing an additional 9,673 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.