BridgeBio Pharma (NASDAQ:BBIO) Given New $49.00 Price Target at Citigroup

BridgeBio Pharma (NASDAQ:BBIO) had its price target increased by Citigroup from $45.00 to $49.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday. Scotiabank increased their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $36.85 on Friday. The business has a fifty day simple moving average of $31.90 and a two-hundred day simple moving average of $27.93. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -15.29 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma 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 completion of the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,496,239 shares of company stock valued at $122,612,036 in the last ninety days. 24.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth $41,000. Sterling Capital Management LLC increased 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 in the last quarter. Values First Advisors Inc. bought a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $57,000. Finally, CWM LLC boosted its holdings in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. 99.85% of the stock is currently 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.