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

BridgeBio Pharma (NASDAQ:BBIO) had its price objective hoisted by Scotiabank from $44.00 to $45.00 in a report issued on Friday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities research analysts have also weighed in on BBIO. Leerink Partners dropped their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Bank of America reissued a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, HC Wainwright restated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded down $0.39 on Friday, hitting $23.72. The stock had a trading volume of 2,781,590 shares, compared to its average volume of 1,847,474. The business’s fifty day moving average price is $25.50 and its 200 day moving average price is $26.41. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $44.32. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of -9.84 and a beta of 1.09.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,831,544 shares of company stock worth $150,128,821. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after acquiring an additional 123,540 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after acquiring an additional 127,853 shares in the last quarter. Barclays PLC grew its stake in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after acquiring an additional 131,743 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at about $338,000. Finally, Quarry LP grew its stake in BridgeBio Pharma by 33.3% during the 3rd quarter. Quarry LP now owns 10,000 shares of the company’s stock valued at $255,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other 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.