BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $48.08 Average PT from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $48.08.

A number of brokerages have issued reports on BBIO. Scotiabank raised their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Bank of America raised their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company.

BridgeBio Pharma Stock Up 2.1 %

Shares of NASDAQ BBIO opened at $29.45 on Monday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.04. The firm’s fifty day moving average is $26.61 and its 200 day moving average is $26.11. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -12.22 and a beta of 1.05.

Insider Buying and Selling

In other news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 value of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently modified their holdings of BBIO. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares in the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of BridgeBio Pharma by 3.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after acquiring an additional 127,853 shares in the last quarter. Geode Capital Management LLC raised its holdings in BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after acquiring an additional 123,540 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after acquiring an additional 506,845 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in BridgeBio Pharma by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after purchasing an additional 442,248 shares during the last quarter. Hedge funds and other institutional investors 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.