BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $49.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by research analysts at Scotiabank from $48.00 to $49.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 58.29% from the stock’s current price.

Several other research analysts have also commented on BBIO. Leerink Partners dropped their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

BridgeBio Pharma Trading Down 0.5 %

Shares of BBIO stock traded down $0.17 on Wednesday, reaching $30.96. The company’s stock had a trading volume of 294,091 shares, compared to its average volume of 2,701,766. The stock’s fifty day simple moving average is $30.83 and its 200-day simple moving average is $27.46. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -12.84 and a beta of 1.07.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,492,093 shares of company stock worth $122,029,004 over the last quarter. 24.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of BridgeBio Pharma by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after acquiring an additional 879,059 shares in the last quarter. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in BridgeBio Pharma by 3.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after purchasing an additional 127,853 shares in the last quarter. Geode Capital Management LLC lifted its holdings in BridgeBio Pharma by 3.8% in the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after acquiring an additional 123,540 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in BridgeBio Pharma by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company’s stock valued at $35,858,000 after acquiring an additional 21,963 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

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.