BridgeBio Pharma’s (BBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $49.00 price target on the stock.

BBIO has been the subject of several other research reports. Bank of America raised their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Scotiabank upped their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Leerink Partners reduced their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.69.

BridgeBio Pharma Trading Up 0.8 %

NASDAQ:BBIO opened at $27.71 on Monday. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32. The company has a 50-day moving average of $25.64 and a 200-day moving average of $26.09. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of -11.50 and a beta of 1.08.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction 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. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

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

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.