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

BridgeBio Pharma (NASDAQ:BBIO) had its price objective upped by Scotiabank from $44.00 to $45.00 in a research note published on Friday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities analysts also recently commented on BBIO. JPMorgan Chase & Co. cut their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Evercore ISI dropped their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $22.35 on Friday. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -9.27 and a beta of 1.09. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The company’s 50 day moving average price is $25.33 and its 200 day moving average price is $26.37.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently made changes to their positions in BBIO. Bfsg LLC boosted its holdings in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma in the 2nd quarter valued at about $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $57,000. CWM LLC grew its position in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in BridgeBio Pharma during the first quarter worth about $117,000. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.