BridgeBio Pharma (NASDAQ:BBIO) Given New $50.00 Price Target at JPMorgan Chase & Co.

BridgeBio Pharma (NASDAQ:BBIO) had its price target increased by equities researchers at JPMorgan Chase & Co. from $44.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 36.09% from the stock’s previous close.

A number of other equities analysts have also issued reports on BBIO. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Citigroup lifted their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Scotiabank raised their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.90.

BridgeBio Pharma Stock Down 1.3 %

NASDAQ BBIO opened at $36.74 on Monday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $39.47. The company has a 50 day moving average price of $34.17 and a 200 day moving average price of $29.16. The firm has a market cap of $6.99 billion, a PE ratio of -12.89 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. On average, equities research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock worth $323,171,901 in the last three months. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma during the fourth quarter worth about $41,000. Sterling Capital Management LLC boosted its position in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the 4th quarter valued at about $109,000. Finally, Advisors Asset Management Inc. raised its holdings in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.