BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $53.00

BridgeBio Pharma (NASDAQ:BBIO) had its price target boosted by investment analysts at HC Wainwright from $49.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 52.08% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Scotiabank increased 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 lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Evercore ISI boosted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

BridgeBio Pharma Stock Performance

BBIO stock opened at $34.85 on Tuesday. BridgeBio Pharma has a one year low of $21.62 and a one year high of $39.47. The stock has a market capitalization of $6.63 billion, a P/E ratio of -12.23 and a beta of 1.08. The company has a 50 day moving average price of $33.62 and a two-hundred day moving average price of $29.90.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Research analysts forecast that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Andrea Ellis sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the transaction, the director now owns 12,000 shares in the company, valued at $408,600. The trade was a 71.43 % 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 326,932 shares of the business’s stock in a transaction dated 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 approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,684,739 shares of company stock worth $326,958,651 over the last quarter. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in shares of BridgeBio Pharma during the third quarter worth approximately $338,000. Barclays PLC raised its stake in shares of BridgeBio Pharma by 31.9% in the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after purchasing an additional 131,743 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of BridgeBio Pharma by 3.8% during the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after purchasing an additional 123,540 shares during the last quarter. Exome Asset Management LLC increased its holdings in BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after buying an additional 132,093 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in BridgeBio Pharma by 1.8% during the third 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 in the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.