BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $45.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective increased by Scotiabank from $44.00 to $45.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other research firms also recently issued reports on BBIO. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Leerink Partners reduced their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Friday, October 25th. Finally, Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.57.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $23.72 on Friday. The firm has a 50-day moving average of $25.50 and a two-hundred day moving average of $26.41. The stock has a market cap of $4.48 billion, a P/E ratio of -9.84 and a beta of 1.09. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of BridgeBio Pharma by 17.0% in the first quarter. Swiss National Bank now owns 206,000 shares of the company’s stock valued at $6,370,000 after purchasing an additional 29,900 shares in the last quarter. ProShare Advisors LLC lifted its stake in BridgeBio Pharma by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 33,281 shares of the company’s stock worth $1,029,000 after acquiring an additional 3,209 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in BridgeBio Pharma by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,583 shares of the company’s stock worth $1,100,000 after acquiring an additional 2,900 shares during the period. Mizuho Markets Americas LLC grew its stake in BridgeBio Pharma by 15.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 74,309 shares of the company’s stock valued at $2,298,000 after acquiring an additional 9,930 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.