Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.69

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $47.69.

Several equities research analysts have recently commented on BBIO shares. 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 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 for the company in a report on Thursday, October 17th. Oppenheimer assumed coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc grew 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. Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after purchasing an additional 442,248 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of BridgeBio Pharma by 65.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after purchasing an additional 437,164 shares during the period. Finally, First Turn Management LLC purchased a new stake in BridgeBio Pharma during the 3rd quarter worth about $10,178,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 0.8 %

Shares of BBIO stock opened at $27.71 on Thursday. The firm has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $26.09. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The firm has a market capitalization of $5.24 billion, a PE ratio of -11.50 and a beta of 1.08.

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.