JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO - Free Report) had its target price upped by JPMorgan Chase & Co. from $44.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Evercore ISI lifted their price target 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. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. HC Wainwright reiterated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Scotiabank lifted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.90.

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BridgeBio Pharma Price Performance

Shares of BBIO stock traded down $1.10 on Monday, hitting $35.30. The company's stock had a trading volume of 339,292 shares, compared to its average volume of 2,137,754. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -12.36 and a beta of 1.07. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The firm's fifty day moving average price is $34.24 and its 200-day moving average price is $29.26.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $4.04 million. Analysts predict that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 68,000 shares of the 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 in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,654,739 shares of company stock worth $325,937,151 over the last quarter. Company insiders own 24.66% of the company's stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its position in BridgeBio Pharma by 6.8% during the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company's stock worth $3,174,000 after acquiring an additional 7,388 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in BridgeBio Pharma in the fourth quarter worth $5,076,000. Mackenzie Financial Corp grew its holdings in shares of BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after purchasing an additional 592 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of BridgeBio Pharma in the fourth quarter valued at $109,000. Finally, Frazier Life Sciences Management L.P. raised its holdings in shares of 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 valued at $104,285,000 after buying an additional 40,000 shares during the last quarter. 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.