Evercore ISI Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its target price increased by equities researchers at Evercore ISI from $45.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 75.25% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Scotiabank increased their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective on the stock. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Oppenheimer started coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $28.53 on Monday. The firm has a 50-day moving average of $25.83 and a 200-day moving average of $26.06. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The company has a market cap of $5.39 billion, a P/E ratio of -11.84 and a beta of 1.08.

Insider Buying and Selling

In other news, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma 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 completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently bought and sold shares of the company. Bfsg LLC raised its stake in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $48,000. Values First Advisors Inc. bought a new position in shares of BridgeBio Pharma in the 3rd quarter worth approximately $57,000. CWM LLC lifted its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. boosted 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. Institutional investors own 99.85% of the company’s stock.

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.