BridgeBio Pharma (NASDAQ:BBIO) Earns “Buy” Rating from HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $49.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 76.13% from the stock’s current price.

Several other analysts have also recently commented on BBIO. Leerink Partners reduced their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Bank of America upped their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Scotiabank increased 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. Finally, Piper Sandler began coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

BridgeBio Pharma Trading Up 0.4 %

NASDAQ:BBIO opened at $27.82 on Monday. The stock has a market cap of $5.26 billion, a P/E ratio of -11.54 and a beta of 1.08. The stock’s 50-day moving average is $25.70 and its 200-day moving average is $26.09. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the 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 transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC boosted its stake in BridgeBio Pharma by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares during the period. Bfsg LLC boosted its stake in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the period. Amalgamated Bank boosted its stake in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the period. Finally, Diversified Trust Co boosted its stake in BridgeBio Pharma by 3.0% in the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock worth $936,000 after purchasing an additional 1,059 shares during the period. 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.