BridgeBio Pharma’s (BBIO) “Buy” Rating Reaffirmed at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $49.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 53.36% from the stock’s current price.

BBIO has been the topic of several other research reports. Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Scotiabank increased their price objective on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Leerink Partners dropped their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.08.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $31.95 on Thursday. The business’s 50-day simple moving average is $30.93 and its 200 day simple moving average is $27.49. The company has a market cap of $6.04 billion, a P/E ratio of -13.26 and a beta of 1.07. BridgeBio Pharma has a one year low of $21.62 and a one year high of $41.04.

Insider Activity

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the 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 transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,492,093 shares of company stock valued at $122,029,004. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the period. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the 3rd quarter worth approximately $57,000. CWM LLC raised its holdings in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. lifted 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 valued at $117,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after buying an additional 801 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.