BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.69 Consensus Price Target from Brokerages

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $47.69.

A number of research analysts recently issued reports on BBIO shares. Leerink Partners dropped their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Piper Sandler began coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. HC Wainwright upped their price target on BridgeBio Pharma from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Bank of America increased their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the company’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 $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the 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 of the company’s stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their position. 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 BBIO. First Turn Management LLC bought a new position in BridgeBio Pharma during the third quarter worth about $10,178,000. Polar Asset Management Partners Inc. purchased a new position in BridgeBio Pharma during the third quarter worth about $1,286,000. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $1,136,000. Finally, Jennison Associates LLC bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $767,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $27.49 on Thursday. The stock has a market capitalization of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.08. The business has a 50 day simple moving average of $25.58 and a 200 day simple moving average of $26.11. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32.

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.