Scotiabank Boosts BridgeBio Pharma (NASDAQ:BBIO) Price Target to $45.00

BridgeBio Pharma (NASDAQ:BBIO - Free Report) had its price target lifted by Scotiabank from $44.00 to $45.00 in a research report released on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other brokerages have also recently issued reports on BBIO. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. 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. JPMorgan Chase & Co. lowered their target price on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Bank of America restated a "buy" rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.57.

BridgeBio Pharma Trading Down 1.6 %

NASDAQ BBIO traded down $0.39 on Friday, reaching $23.72. The company's stock had a trading volume of 2,779,480 shares, compared to its average volume of 1,847,474. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The firm has a market cap of $4.48 billion, a PE ratio of -9.63 and a beta of 1.09. The business has a 50-day moving average price of $25.64 and a 200 day moving average price of $26.42.

Insiders Place Their Bets

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

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently modified their holdings of the business. Bfsg LLC grew its stake in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock worth $31,000 after buying an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new stake in BridgeBio Pharma in the second quarter valued at approximately $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at $57,000. CWM LLC grew its holdings in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after acquiring an additional 1,964 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in BridgeBio Pharma in the first quarter valued at approximately $117,000. Institutional investors 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.