BridgeBio Pharma, Inc. (NASDAQ:BBIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $48.08.

Several research analysts have weighed in on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank boosted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Evercore ISI raised their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock.

Insider Buying and Selling

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

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma in the 2nd quarter valued at $48,000. Values First Advisors Inc. purchased a new stake in BridgeBio Pharma in the third quarter valued at $57,000. CWM LLC boosted its stake in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.3 %

Shares of BridgeBio Pharma stock opened at $29.08 on Monday. The business’s fifty day simple moving average is $26.81 and its 200-day simple moving average is $26.18. The firm has a market cap of $5.50 billion, a PE ratio of -12.07 and a beta of 1.05. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.04.

About BridgeBio Pharma

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.