BridgeBio Pharma's (BBIO) "Buy" Rating Reiterated at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $49.00 price objective on the stock. HC Wainwright's price objective suggests a potential upside of 40.40% from the company's current price.

Several other analysts also recently commented on the stock. Evercore ISI increased their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Bank of America increased their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Leerink Partners reduced their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Finally, Scotiabank increased their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a "sector outperform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.08.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $3.34 during trading on Thursday, reaching $34.90. The stock had a trading volume of 3,372,917 shares, compared to its average volume of 3,171,595. The firm's fifty day moving average is $31.15 and its 200 day moving average is $27.60. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.04. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of -14.48 and a beta of 1.07.

Insiders Place Their Bets

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were 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 directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company's stock, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,492,093 shares of company stock worth $122,029,004 over the last quarter. 24.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently modified their holdings of the company. Nicholas Investment Partners LP boosted its position in shares of BridgeBio Pharma by 68.0% in the fourth quarter. Nicholas Investment Partners LP now owns 59,892 shares of the company's stock valued at $1,643,000 after acquiring an additional 24,248 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of BridgeBio Pharma by 4.3% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,118 shares of the company's stock valued at $1,677,000 after acquiring an additional 2,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BridgeBio Pharma by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,994 shares of the company's stock valued at $2,468,000 after acquiring an additional 3,481 shares during the period. Janus Henderson Group PLC raised its stake in BridgeBio Pharma by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock valued at $134,672,000 after purchasing an additional 89,521 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $5,076,000. 99.85% of the stock is currently owned by institutional investors.

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.