Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $47.57

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.57.

A number of research analysts have commented on BBIO shares. JPMorgan Chase & Co. reduced their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Oppenheimer started coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. HC Wainwright reiterated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Friday, October 25th. Finally, Evercore ISI reduced their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of BBIO. Bfsg LLC grew its position in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $48,000. Values First Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $57,000. CWM LLC lifted its holdings in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth approximately $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 0.9 %

Shares of BBIO stock opened at $22.54 on Friday. The company’s fifty day simple moving average is $25.18 and its 200-day simple moving average is $26.33. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market cap of $4.26 billion, a PE ratio of -9.35 and a beta of 1.09.

About BridgeBio Pharma

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.