BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $49.00 at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO) had its price target increased by equities research analysts at HC Wainwright from $43.00 to $49.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 85.33% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Bank of America restated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Piper Sandler initiated coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Leerink Partners dropped their price objective 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. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $26.44 on Monday. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -10.97 and a beta of 1.09. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The firm’s 50-day simple moving average is $24.97 and its two-hundred day simple moving average is $26.21.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,545 shares of company stock valued at $150,056,923. Corporate insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares during the last quarter. Ensign Peak Advisors Inc raised its position in BridgeBio Pharma by 44.5% during the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after purchasing an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after purchasing an additional 442,248 shares during the last quarter. Emerald Advisers LLC lifted its stake in BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock worth $28,095,000 after purchasing an additional 437,164 shares during the last quarter. Finally, First Turn Management LLC purchased a new position in shares of BridgeBio Pharma in the 3rd quarter worth about $10,178,000. Hedge funds and other institutional investors 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.