Evercore ISI Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by Evercore ISI from $45.00 to $50.00 in a report published on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

BBIO has been the topic of a number of other research reports. Piper Sandler started coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank upped their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $27.77 on Monday. The firm has a 50-day simple moving average of $25.79 and a two-hundred day simple moving average of $26.05. The firm has a market cap of $5.25 billion, a P/E ratio of -11.52 and a beta of 1.08. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated 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 trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

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