BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings 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 price target among analysts that have covered the stock in the last year is $49.00.

A number of brokerages recently issued reports on BBIO. Evercore ISI increased their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Oppenheimer started coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. Leerink Partners dropped their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Scotiabank increased their price target 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. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th.

BridgeBio Pharma Stock Down 1.3 %

Shares of NASDAQ:BBIO opened at $35.97 on Friday. The firm has a 50-day simple moving average of $29.64 and a 200 day simple moving average of $27.10. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $41.04. The company has a market cap of $6.80 billion, a PE ratio of -14.93 and a beta of 1.05.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 426,477 shares of company stock worth $15,039,006. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $57,000. CWM LLC increased its holdings in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. raised its position in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after acquiring an additional 801 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of BridgeBio Pharma by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after acquiring an additional 1,214 shares during the last quarter. 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.