BridgeBio Pharma’s (BBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report sent to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a $49.00 price objective on the stock.

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

BridgeBio Pharma Trading Up 10.6 %

Shares of BBIO stock opened at $34.90 on Thursday. The company’s fifty day simple moving average is $31.15 and its 200-day simple moving average is $27.58. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.04. The company has a market cap of $6.60 billion, a PE ratio of -14.48 and a beta of 1.07.

Insider Transactions at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 19th. The shares were 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 approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma during the 4th quarter valued at about $41,000. Sterling Capital Management LLC boosted 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 valued at $49,000 after purchasing an additional 1,514 shares during the period. Values First Advisors Inc. acquired a new position in BridgeBio Pharma during the 3rd quarter valued at about $57,000. Finally, CWM LLC boosted its stake in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.