BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $50.00 at JPMorgan Chase & Co.

BridgeBio Pharma (NASDAQ:BBIO) had its price target boosted by JPMorgan Chase & Co. from $44.00 to $50.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

BBIO has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America lifted 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. Scotiabank upped their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday, February 21st. Citigroup increased their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $52.90.

BridgeBio Pharma Stock Up 7.0 %

Shares of NASDAQ:BBIO opened at $37.22 on Monday. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -13.06 and a beta of 1.07. The company has a 50 day moving average of $34.15 and a two-hundred day moving average of $29.12. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, equities analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. This represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,579,739 shares of company stock worth $323,171,901. 24.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. acquired a new stake in shares of BridgeBio Pharma in the third quarter worth $1,286,000. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after purchasing an additional 505,481 shares during the period. Intech Investment Management LLC bought a new position in shares of BridgeBio Pharma in the third quarter worth about $1,136,000. Principal Financial Group Inc. grew its holdings in BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after buying an additional 19,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in BridgeBio Pharma by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after buying an additional 95,605 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

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.