Brokerages Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Price Target at $48.08

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $48.08.

A number of equities analysts recently weighed in on BBIO shares. Scotiabank upped their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Leerink Partners reduced their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Oppenheimer assumed coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Evercore ISI increased their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the company’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 $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma 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 transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. acquired a new position in BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC grew its position in BridgeBio Pharma by 132.9% in the third 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 period. Advisors Asset Management Inc. increased its stake in BridgeBio Pharma by 56.1% during the third 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, Amalgamated Bank raised its position in BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $29.08 on Monday. The firm has a 50-day simple moving average of $26.81 and a two-hundred day simple moving average of $26.21. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $41.04. The company has a market cap of $5.50 billion, a P/E ratio of -12.07 and a beta of 1.05.

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.