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

BridgeBio Pharma (NASDAQ:BBIO) had its price target lifted by JPMorgan Chase & Co. from $44.00 to $50.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the company. Citigroup lifted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Scotiabank lifted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Evercore ISI raised their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.90.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $36.10 on Monday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market capitalization of $6.87 billion, a PE ratio of -12.67 and a beta of 1.07. The business has a fifty day moving average price of $34.19 and a two-hundred day moving average price of $29.21.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. Sell-side analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,579,739 shares of company stock valued at $323,171,901. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in BBIO. California State Teachers Retirement System boosted its holdings in shares of BridgeBio Pharma by 6.8% in the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock worth $3,174,000 after purchasing an additional 7,388 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in BridgeBio Pharma in the 4th quarter worth approximately $5,076,000. Mackenzie Financial Corp boosted its stake in BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after buying an additional 592 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma during the fourth quarter valued at approximately $109,000. Finally, Frazier Life Sciences Management L.P. grew its position in BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after acquiring an additional 40,000 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.