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

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by Scotiabank from $48.00 to $49.00 in a research report released on Wednesday,Benzinga reports. They currently have a sector outperform rating on the stock.

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

BridgeBio Pharma Trading Up 10.6 %

Shares of BBIO opened at $34.90 on Wednesday. The firm has a market cap of $6.60 billion, a P/E ratio of -14.48 and a beta of 1.07. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $41.04. The company’s 50-day moving average price is $31.02 and its 200 day moving average price is $27.52.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction that occurred 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 owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors have recently added to or reduced their stakes in BBIO. Norges Bank purchased a new stake in BridgeBio Pharma during the fourth quarter worth approximately $29,237,000. Capital Research Global Investors lifted its stake in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 buying an additional 879,059 shares during the last quarter. Janus Henderson Group PLC lifted its stake 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 buying an additional 505,481 shares during the last quarter. Finally, Emerald Advisers LLC lifted its stake in BridgeBio Pharma by 65.6% in the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after buying an additional 437,164 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.