BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives $47.57 Average Price Target from Analysts

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $47.57.

BBIO has been the topic of a number of research analyst reports. Bank of America reiterated a "buy" rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. JPMorgan Chase & Co. decreased their target price on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. HC Wainwright restated a "buy" rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research report on Friday, October 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Leerink Partners dropped their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares of the company's stock, valued at approximately $2,103,390.48. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 in the last 90 days. Insiders own 24.66% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently modified their holdings of BBIO. Profund Advisors LLC boosted its holdings in BridgeBio Pharma by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock worth $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. raised its position in shares of BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company's stock valued at $1,778,000 after buying an additional 565 shares during the period. Bfsg LLC raised its position in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company's stock valued at $31,000 after buying an additional 790 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock valued at $135,000 after purchasing an additional 801 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company's stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Down 1.6 %

Shares of BridgeBio Pharma stock opened at $23.72 on Friday. The stock's 50-day simple moving average is $25.50 and its 200-day simple moving average is $26.41. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -9.84 and a beta of 1.09.

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.