BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $48.08 Average PT from Brokerages

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.08.

A number of analysts have recently commented on the company. Oppenheimer began coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating on the stock. Evercore ISI upped their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Bank of America lifted their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Finally, Scotiabank raised their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th.

Insider Buying and Selling

In related news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently added to or reduced their stakes in BBIO. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter worth $48,000. Values First Advisors Inc. purchased a new stake in shares of BridgeBio Pharma in the third quarter valued at about $57,000. CWM LLC increased its position in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. raised 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 purchasing an additional 1,645 shares during the period. Finally, Amalgamated Bank boosted its holdings in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $29.08 on Monday. The firm’s fifty day moving average is $26.81 and its two-hundred day moving average is $26.18. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -12.07 and a beta of 1.05. BridgeBio Pharma has a one year low of $21.62 and a one year high of $41.04.

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.