BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $52.00 at Scotiabank

BridgeBio Pharma (NASDAQ:BBIO) had its price objective lifted by Scotiabank from $49.00 to $52.00 in a research report report published on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Bank of America lifted 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. Evercore ISI lifted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.67.

BridgeBio Pharma Trading Up 0.1 %

Shares of BridgeBio Pharma stock opened at $36.85 on Friday. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market cap of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07. The stock has a 50-day moving average price of $31.90 and a 200 day moving average price of $27.93.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities analysts forecast that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the completion of the transaction, the chief financial officer now directly owns 102,464 shares in the company, valued at approximately $3,705,098.24. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,496,239 shares of company stock valued at $122,612,036. Insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 85.8% in 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 during the period. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,514 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma during the third quarter worth approximately $57,000. Finally, CWM LLC boosted its position in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares during the period. 99.85% of the stock is currently 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.