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

BridgeBio Pharma (NASDAQ:BBIO) had its price objective boosted by Evercore ISI from $45.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 81.75% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Piper Sandler began coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Leerink Partners decreased their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, HC Wainwright restated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $1.02 during trading hours on Monday, reaching $27.51. The stock had a trading volume of 543,907 shares, compared to its average volume of 1,916,999. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.08. The firm’s 50 day moving average is $25.79 and its 200-day moving average is $26.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bfsg LLC boosted its holdings in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma during the 2nd quarter worth approximately $48,000. Values First Advisors Inc. purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC lifted its position in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the period. 99.85% of the stock is currently 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.