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

BridgeBio Pharma (NASDAQ:BBIO) had its price target lifted by HC Wainwright from $43.00 to $49.00 in a research note published on Monday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($0.99) EPS, FY2024 earnings at ($2.46) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.72) EPS.

Other equities analysts also recently issued reports about the stock. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Scotiabank raised their price target on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Piper Sandler assumed coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Leerink Partners reduced their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.43.

BridgeBio Pharma Stock Up 4.0 %

NASDAQ:BBIO opened at $27.49 on Monday. The stock has a market cap of $5.20 billion, a PE ratio of -11.41 and a beta of 1.09. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The firm’s fifty day simple moving average is $25.00 and its 200-day simple moving average is $26.22.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,545 shares of company stock worth $150,056,923 in the last quarter. 24.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of the business. Profund Advisors LLC boosted its position in BridgeBio Pharma by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after buying an additional 555 shares during the period. American International Group Inc. raised its holdings in shares of BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the last quarter. Bfsg LLC raised its stake in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after buying an additional 962 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

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.