Piper Jaffray Companies Initiates Coverage on BridgeBio Pharma (NASDAQ:BBIO)

Stock analysts at Piper Jaffray Companies started coverage on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report issued on Monday, MarketBeat reports. The firm set an “overweight” rating and a $50.00 price target on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 73.43% from the company’s previous close.

A number of other analysts have also recently weighed in on BBIO. BMO Capital Markets decreased their price target on shares of West Fraser Timber from C$78.00 to C$74.00 in a research note on Monday. Goldman Sachs Group cut shares of Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Monday. Seven analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $40.71.

Shares of NASDAQ:BBIO opened at $28.83 on Monday. BridgeBio Pharma has a 1-year low of $24.06 and a 1-year high of $31.64.

In other news, insider Brian C. Stephenson acquired 55,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was bought at an average price of $17.00 per share, for a total transaction of $943,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of the business’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $17.00 per share, with a total value of $45,000,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,408,500 shares of company stock valued at $125,944,500.

About BridgeBio Pharma

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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