BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.57 Consensus Target Price from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $47.57.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Leerink Partners dropped their price objective 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. Finally, Evercore ISI decreased their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC raised its holdings in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new stake in BridgeBio Pharma during the 2nd quarter valued at $48,000. Values First Advisors Inc. purchased a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $57,000. CWM LLC raised its position 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 acquiring an additional 1,964 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma during the 1st quarter worth $117,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $23.24 on Friday. The stock has a market cap of $4.39 billion, a P/E ratio of -9.64 and a beta of 1.09. The stock’s fifty day moving average is $25.01 and its 200 day moving average is $26.29. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32.

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.