BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Recommendation of “Moderate Buy” from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $49.00.

Several analysts have commented on BBIO shares. Leerink Partners dropped their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Evercore ISI lifted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Bank of America lifted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report 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. Finally, Oppenheimer started coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,477 shares of company stock worth $15,039,006. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in BridgeBio Pharma during the third quarter worth about $57,000. CWM LLC increased its position in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after buying an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. raised its stake in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in BridgeBio Pharma in the 4th quarter valued at approximately $181,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $35.97 on Friday. The firm has a 50 day moving average price of $29.64 and a 200 day moving average price of $27.10. The stock has a market cap of $6.80 billion, a P/E ratio of -14.93 and a beta of 1.05. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $41.04.

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.