JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $44.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 43.80% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Scotiabank boosted their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. Finally, Citigroup upped their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $34.77 on Monday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The firm has a market cap of $6.61 billion, a P/E ratio of -12.20 and a beta of 1.07. The stock has a fifty day moving average price of $34.08 and a two-hundred day moving average price of $29.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, research analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,579,739 shares of company stock valued at $323,171,901 in the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of BBIO. Polar Asset Management Partners Inc. purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter worth about $1,286,000. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares in the last quarter. Intech Investment Management LLC acquired a new position in BridgeBio Pharma in the third quarter worth approximately $1,136,000. Principal Financial Group Inc. raised its position in BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after acquiring an additional 19,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in BridgeBio Pharma by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after acquiring an additional 95,605 shares during the last quarter. Institutional investors and hedge funds 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.