BridgeBio Pharma (NASDAQ:BBIO) Receives $40.13 Average PT from Analysts

Shares of BridgeBio Pharma (NASDAQ:BBIO) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.13.

Several research analysts have recently weighed in on the company. Svb Leerink assumed coverage on BridgeBio Pharma in a report on Monday, July 22nd. They set an “outperform” rating and a $34.00 target price on the stock. BMO Capital Markets assumed coverage on BridgeBio Pharma in a report on Monday, July 22nd. They set an “outperform” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on BridgeBio Pharma in a report on Monday, July 22nd. They set an “overweight” rating and a $38.00 target price on the stock. Goldman Sachs Group assumed coverage on BridgeBio Pharma in a report on Monday, July 22nd. They set a “buy” rating and a $42.00 target price on the stock. Finally, Piper Jaffray Companies assumed coverage on BridgeBio Pharma in a report on Monday, July 22nd. They set an “overweight” rating and a $50.00 target price on the stock.

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $45,000,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Stephenson acquired 55,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was acquired at an average price of $17.00 per share, for a total transaction of $943,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 7,409,500 shares of company stock worth $125,947,930.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tiverton Asset Management LLC acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $76,000. Point72 Hong Kong Ltd acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $255,000. Bank of Montreal Can acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $270,000. Point72 Asset Management L.P. acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $356,000. Finally, Zimmer Partners LP acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $458,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.

BBIO stock opened at $26.10 on Tuesday. BridgeBio Pharma has a 12-month low of $24.06 and a 12-month high of $32.94. The business has a 50-day moving average price of $28.76.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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Analyst Recommendations for BridgeBio Pharma (NASDAQ:BBIO)

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