BridgeBio Pharma (NASDAQ:BBIO) Given "Buy" Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO - Free Report) in a research report sent to investors on Monday,Benzinga reports. They currently have a $49.00 price target on the stock.

A number of other equities analysts have also recently commented on the company. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating for the company. Scotiabank lifted 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 note on Monday, November 25th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 target price on the stock. Leerink Partners dropped 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 note on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.69.

BridgeBio Pharma Stock Performance

BBIO stock traded up $0.22 during trading on Monday, hitting $27.71. 1,869,131 shares of the company's stock traded hands, compared to its average volume of 1,909,260. The business has a fifty day simple moving average of $25.58 and a 200 day simple moving average of $26.10. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of -11.63 and a beta of 1.08.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,156 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company's stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in shares of BridgeBio Pharma by 3,429.6% during the second quarter. Assenagon Asset Management S.A. now owns 246,895 shares of the company's stock valued at $6,254,000 after buying an additional 239,900 shares during the last quarter. Bfsg LLC increased its holdings in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock valued at $31,000 after purchasing an additional 790 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BridgeBio Pharma by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,072 shares of the company's stock worth $635,000 after purchasing an additional 3,122 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of BridgeBio Pharma by 75.3% during the second quarter. Panagora Asset Management Inc. now owns 727,963 shares of the company's stock worth $18,439,000 after purchasing an additional 312,686 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of BridgeBio Pharma by 4.8% during the second quarter. Principal Financial Group Inc. now owns 1,125,145 shares of the company's stock worth $28,500,000 after purchasing an additional 51,958 shares during the period. Institutional investors and hedge funds 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.