BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $52.00

BridgeBio Pharma (NASDAQ:BBIO) had its price objective boosted by Scotiabank from $49.00 to $52.00 in a research report report published on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other analysts have also weighed in on the stock. Evercore ISI lifted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Finally, Bank of America upped their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.67.

BridgeBio Pharma Trading Up 0.1 %

Shares of BBIO stock opened at $36.85 on Friday. The company has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47. The stock has a 50 day moving average of $31.90 and a two-hundred day moving average of $27.93.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. Sell-side analysts predict that BridgeBio Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s 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 transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,496,239 shares of company stock valued at $122,612,036 in the last three months. 24.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBIO. Vanguard Group Inc. boosted its position in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after buying an additional 879,059 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock valued at $134,672,000 after acquiring an additional 89,521 shares during the period. Farallon Capital Management LLC boosted its holdings in BridgeBio Pharma by 140.1% in the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after acquiring an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in BridgeBio Pharma by 1.1% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after purchasing an additional 40,000 shares during the period. Finally, Capital Research Global Investors raised its holdings in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. 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.