BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Evercore ISI Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by Evercore ISI from $45.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on BBIO. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank raised their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Finally, Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

BridgeBio Pharma Price Performance

BBIO stock opened at $27.77 on Monday. The company has a market capitalization of $5.25 billion, a P/E ratio of -11.52 and a beta of 1.08. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The firm’s fifty day simple moving average is $25.79 and its 200-day simple moving average is $26.05.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently bought and sold shares of the business. Profund Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares during the last quarter. Bfsg LLC boosted its stake in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares in the last quarter. Amalgamated Bank increased its stake in shares of BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of BridgeBio Pharma by 3.0% during the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock worth $936,000 after acquiring an additional 1,059 shares during the period. 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.