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

HC Wainwright reissued their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report released on Monday,Benzinga reports. HC Wainwright currently has a $49.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Scotiabank raised their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.69.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $27.71 on Monday. The business’s 50-day moving average is $25.64 and its two-hundred day moving average is $26.09. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $44.32. The firm has a market capitalization of $5.24 billion, a PE ratio of -11.50 and a beta of 1.08.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,156 shares of the 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 transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. First Turn Management LLC acquired a new stake in BridgeBio Pharma in the third quarter worth about $10,178,000. Polar Asset Management Partners Inc. bought a new position in BridgeBio Pharma in the 3rd quarter valued at about $1,286,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after buying an additional 505,481 shares in the last quarter. Intech Investment Management LLC bought a new position in BridgeBio Pharma in the 3rd quarter valued at about $1,136,000. Finally, Jennison Associates LLC bought a new position in BridgeBio Pharma in the 3rd quarter valued at about $767,000. 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.