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

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by equities research analysts at Scotiabank from $49.00 to $52.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 39.00% from the stock’s current price.

A number of other analysts have also recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI lifted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, Bank of America upped their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

BridgeBio Pharma Trading Up 1.6 %

NASDAQ:BBIO traded up $0.60 during mid-day trading on Friday, reaching $37.41. The company’s stock had a trading volume of 625,266 shares, compared to its average volume of 2,875,695. The firm’s fifty day moving average price is $31.71 and its two-hundred day moving average price is $27.85. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $39.47. The stock has a market cap of $7.07 billion, a P/E ratio of -15.55 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Analysts predict that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction dated 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 transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the transaction, the chief executive officer now owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,496,239 shares of company stock valued at $122,612,036. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. acquired a new stake in BridgeBio Pharma in the third quarter worth $1,286,000. First Turn Management LLC bought a new stake in BridgeBio Pharma in the 3rd quarter valued at about $10,178,000. Janus Henderson Group PLC raised its stake in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares during the period. Intech Investment Management LLC bought a new position in BridgeBio Pharma in the third quarter worth approximately $1,136,000. Finally, Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after purchasing an additional 19,978 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.