Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $49.00

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.00.

A number of equities research analysts have recently weighed in on BBIO shares. Evercore ISI boosted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Bank of America boosted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Monday, December 16th. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Scotiabank upped their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s 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 sale, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at $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 quarter, insiders sold 3,492,093 shares of company stock valued at $122,029,004. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HealthInvest Partners AB grew its stake in shares of BridgeBio Pharma by 92.8% in the 4th quarter. HealthInvest Partners AB now owns 103,032 shares of the company’s stock worth $2,815,000 after buying an additional 49,600 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of BridgeBio Pharma by 95.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 25,980 shares of the company’s stock worth $713,000 after buying an additional 12,701 shares during the last quarter. First Bank & Trust purchased a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $205,000. Handelsbanken Fonder AB boosted its stake in BridgeBio Pharma by 16.6% during the 4th quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company’s stock valued at $1,041,000 after purchasing an additional 5,400 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in BridgeBio Pharma by 21.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company’s stock valued at $2,556,000 after purchasing an additional 16,545 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 6.3 %

NASDAQ BBIO opened at $32.98 on Friday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $41.04. The stock has a 50-day moving average of $30.18 and a 200-day moving average of $27.22. The firm has a market cap of $6.23 billion, a PE ratio of -13.68 and a beta of 1.07.

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.