BridgeBio Pharma (NASDAQ:BBIO) Given New $49.00 Price Target at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by HC Wainwright from $43.00 to $49.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Bank of America restated a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $48.43.

BridgeBio Pharma Trading Up 16.1 %

Shares of BBIO stock opened at $27.19 on Monday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The firm’s 50 day moving average is $24.98 and its 200-day moving average is $26.23. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -11.28 and a beta of 1.09.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the 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 $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock valued at $150,056,923 over the last three months. 24.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the stock. American International Group Inc. increased its holdings in BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after purchasing an additional 565 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after buying an additional 145,594 shares in the last quarter. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after buying an additional 2,169,143 shares during the last quarter. California State Teachers Retirement System raised its position in BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock valued at $3,265,000 after buying an additional 7,153 shares during the last quarter. Finally, Comerica Bank lifted its stake in BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after acquiring an additional 37,277 shares in the last quarter. 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.