BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $49.00 Average Price Target from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.00.

BBIO has been the topic of several research analyst reports. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Scotiabank boosted their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. This trade represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently bought and sold shares of BBIO. Dimensional Fund Advisors LP increased its stake in BridgeBio Pharma by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 73,230 shares of the company’s stock worth $1,855,000 after buying an additional 3,624 shares in the last quarter. Xponance Inc. grew its position in shares of BridgeBio Pharma by 25.5% in the second quarter. Xponance Inc. now owns 8,871 shares of the company’s stock valued at $225,000 after purchasing an additional 1,803 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $781,000. Handelsbanken Fonder AB increased its holdings in shares of BridgeBio Pharma by 17.7% in the third quarter. Handelsbanken Fonder AB now owns 32,550 shares of the company’s stock valued at $829,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of BridgeBio Pharma by 3.0% in the third quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock valued at $936,000 after purchasing an additional 1,059 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $32.70 on Friday. The business’s 50-day simple moving average is $30.44 and its two-hundred day simple moving average is $27.32. The company has a market cap of $6.18 billion, a PE ratio of -13.57 and a beta of 1.07. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week 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.