Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) PT at $49.00

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $49.00.

Several brokerages have recently weighed in on BBIO. Evercore ISI upped their price target on 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 reiterated a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Scotiabank upped their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research report on Monday, November 25th. Leerink Partners decreased their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Finally, Bank of America upped their price objective 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.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction 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 approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the transaction, the insider now owns 22,055,375 shares of the company's stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. 24.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of BBIO. Dimensional Fund Advisors LP increased its holdings in shares of BridgeBio Pharma by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 73,230 shares of the company's stock valued at $1,855,000 after acquiring an additional 3,624 shares in the last quarter. Xponance Inc. lifted its position in shares of BridgeBio Pharma by 25.5% during the 2nd quarter. Xponance Inc. now owns 8,871 shares of the company's stock valued at $225,000 after buying an additional 1,803 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of BridgeBio Pharma during the 2nd quarter valued at about $781,000. Handelsbanken Fonder AB lifted its position in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 32,550 shares of the company's stock valued at $829,000 after buying an additional 4,900 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of BridgeBio Pharma by 3.0% during the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company's stock valued at $936,000 after buying an additional 1,059 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

Shares of BBIO traded down $3.18 during midday trading on Friday, hitting $31.03. 5,103,819 shares of the company traded hands, compared to its average volume of 3,013,459. The stock has a 50-day moving average of $30.11 and a 200-day moving average of $27.19. BridgeBio Pharma has a one year low of $21.62 and a one year high of $41.04. The firm has a market cap of $5.86 billion, a P/E ratio of -12.88 and a beta of 1.05.

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.