BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $48.00 at Scotiabank

BridgeBio Pharma (NASDAQ:BBIOFree Report) had its target price raised by Scotiabank from $45.00 to $48.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

A number of other equities analysts have also recently issued reports on BBIO. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. HC Wainwright increased their target price on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

Get Our Latest Stock Analysis on BridgeBio Pharma

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $27.19 on Monday. The firm has a market capitalization of $5.14 billion, a PE ratio of -11.28 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 has a fifty day moving average of $24.98 and a 200 day moving average of $26.23.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 in the last 90 days. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of BridgeBio Pharma by 3.8% during the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after purchasing an additional 123,540 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in shares of BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after buying an additional 127,853 shares in the last quarter. Barclays PLC grew its position in shares of BridgeBio Pharma by 31.9% in the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after buying an additional 131,743 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of BridgeBio Pharma in the 3rd quarter worth about $338,000. Finally, Quarry LP lifted its position in BridgeBio Pharma by 33.3% during the 3rd quarter. Quarry LP now owns 10,000 shares of the company’s stock valued at $255,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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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.

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