BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Average Rating of “Moderate Buy” by Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $49.00.

BBIO has been the topic of several recent analyst reports. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Scotiabank increased their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Monday, December 16th. Finally, Bank of America increased their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th.

BridgeBio Pharma Trading Up 6.3 %

Shares of BBIO opened at $32.98 on Friday. The business’s fifty day simple moving average is $30.18 and its two-hundred day simple moving average is $27.22. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $41.04. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -13.68 and a beta of 1.07.

Insider Buying and Selling

In other BridgeBio Pharma news, 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 sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after acquiring an additional 801 shares during the period. Diversified Trust Co raised its holdings in BridgeBio Pharma by 3.0% during the third quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock valued at $936,000 after acquiring an additional 1,059 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in BridgeBio Pharma by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock valued at $170,000 after acquiring an additional 1,214 shares during the period. Advisors Asset Management Inc. grew its position in shares of BridgeBio Pharma by 56.1% during the third 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 in the last quarter. Finally, Xponance Inc. grew its position in shares of BridgeBio Pharma by 25.5% during the second quarter. Xponance Inc. now owns 8,871 shares of the company’s stock valued at $225,000 after purchasing an additional 1,803 shares in the last quarter. 99.85% of the stock is 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.