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

BridgeBio Pharma (NASDAQ:BBIO) had its target price upped by HC Wainwright from $43.00 to $49.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for BridgeBio Pharma’s Q4 2024 earnings at ($0.99) EPS, FY2024 earnings at ($2.46) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS and FY2025 earnings at ($3.72) EPS.

A number of other brokerages also recently commented on BBIO. Bank of America reiterated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. JPMorgan Chase & Co. reduced their target price 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. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Finally, Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $27.49 on Monday. The stock has a market cap of $5.20 billion, a PE ratio of -11.41 and a beta of 1.09. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a fifty day moving average price of $25.00 and a 200-day moving average price of $26.22.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. Corporate insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently modified their holdings of the stock. Bfsg LLC lifted its position in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma in the 2nd quarter valued at about $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the third quarter worth approximately $57,000. CWM LLC lifted its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the last quarter. 99.85% of the stock is currently owned by 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.