BridgeBio Pharma (NASDAQ:BBIO) Receives “Buy” Rating from HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $49.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 53.36% from the company’s previous close.

BBIO has been the topic of a number of other research reports. Scotiabank boosted their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a report on Wednesday. Leerink Partners cut their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $49.08.

BridgeBio Pharma Trading Up 2.7 %

NASDAQ BBIO opened at $31.95 on Thursday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04. The company has a market cap of $6.04 billion, a PE ratio of -13.26 and a beta of 1.07. The stock’s 50-day moving average price is $30.93 and its two-hundred day moving average price is $27.49.

Insider Activity

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,492,093 shares of company stock worth $122,029,004 in the last three months. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the last quarter. Values First Advisors Inc. bought a new position in BridgeBio Pharma in the 3rd quarter worth $57,000. CWM LLC lifted its position in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. lifted its position in BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after acquiring an additional 801 shares during the period. 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.