BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $45.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective boosted by Bank of America from $42.00 to $45.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on BBIO. Oppenheimer assumed coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Evercore ISI dropped their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price for the company. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $27.49 on Monday. The stock has a market capitalization of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.09. The business’s fifty day moving average is $25.00 and its two-hundred day moving average is $26.22. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,831,545 shares of company stock worth $150,056,923. 24.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 11.7% during the 3rd 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 in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after buying an additional 127,853 shares in the last quarter. Geode Capital Management LLC grew its stake in BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after acquiring an additional 123,540 shares during the period. Ensign Peak Advisors Inc lifted its stake in BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after buying an additional 506,845 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after buying an additional 442,248 shares in 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.