Scotiabank Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its price objective raised by Scotiabank from $48.00 to $49.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Leerink Partners decreased their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

BridgeBio Pharma Trading Up 2.7 %

Shares of BBIO opened at $31.95 on Wednesday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $41.04. The stock has a market capitalization of $6.04 billion, a P/E ratio of -13.26 and a beta of 1.07. The business’s 50-day moving average price is $30.83 and its 200 day moving average price is $27.46.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value 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. This represents a 4.24 % 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, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value 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 $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently modified their holdings of BBIO. CWM LLC increased its position in shares of BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares during the period. Creative Planning acquired a new stake in BridgeBio Pharma during the third quarter worth $772,000. Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares during the period. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $57,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after acquiring an additional 1,214 shares during the period. 99.85% of the stock is owned by institutional investors.

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.