BridgeBio Pharma (NASDAQ:BBIO) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a report published on Thursday morning,Benzinga reports. They currently have a $49.00 target price on the stock.

A number of other brokerages also recently commented on BBIO. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Leerink Partners cut their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Bank of America raised their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

BridgeBio Pharma Trading Down 1.2 %

NASDAQ BBIO opened at $31.56 on Thursday. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $41.04. The stock has a 50 day moving average of $30.93 and a 200-day moving average of $27.49. The company has a market cap of $5.96 billion, a PE ratio of -13.10 and a beta of 1.07.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC bought a new stake in BridgeBio Pharma in the fourth quarter valued at $2,017,000. XTX Topco Ltd acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $366,000. Ameritas Investment Partners Inc. increased its position in BridgeBio Pharma by 3.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after buying an additional 466 shares in the last quarter. Sterling Capital Management LLC raised its stake in BridgeBio Pharma by 554.6% during the 4th 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 during the period. Finally, F M Investments LLC bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $2,667,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.