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

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $47.57.

BBIO has been the topic of a number of recent analyst reports. Leerink Partners cut their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Bank of America reaffirmed a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Evercore ISI decreased their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Oppenheimer started coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. Finally, Piper Sandler began coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company.

BridgeBio Pharma Stock Up 0.9 %

Shares of NASDAQ:BBIO opened at $22.54 on Friday. The company’s 50-day moving average price is $25.18 and its 200 day moving average price is $26.33. The company has a market cap of $4.26 billion, a PE ratio of -9.35 and a beta of 1.09. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BBIO. Swiss National Bank boosted its stake in BridgeBio Pharma by 17.0% in the 1st quarter. Swiss National Bank now owns 206,000 shares of the company’s stock worth $6,370,000 after purchasing an additional 29,900 shares during the period. ProShare Advisors LLC boosted its position in shares of BridgeBio Pharma by 10.7% in the first quarter. ProShare Advisors LLC now owns 33,281 shares of the company’s stock worth $1,029,000 after buying an additional 3,209 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of BridgeBio Pharma by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 35,583 shares of the company’s stock valued at $1,100,000 after buying an additional 2,900 shares in the last quarter. Vanguard Group Inc. raised its position in BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after buying an additional 421,832 shares during the period. Finally, Covestor Ltd lifted its stake in BridgeBio Pharma by 19.4% in the 1st quarter. Covestor Ltd now owns 8,657 shares of the company’s stock worth $268,000 after acquiring an additional 1,406 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.