HC Wainwright Reiterates Buy Rating for BridgeBio Pharma (NASDAQ:BBIO)

BridgeBio Pharma (NASDAQ:BBIO)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $49.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 78.25% from the company’s current price.

A number of other equities research analysts have also commented on BBIO. Leerink Partners reduced their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank upped their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Finally, Bank of America lifted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

BridgeBio Pharma Stock Down 0.7 %

Shares of NASDAQ:BBIO opened at $27.49 on Monday. The firm has a market cap of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.08. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The business has a fifty day simple moving average of $25.58 and a 200 day simple moving average of $26.10.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bfsg LLC boosted its stake in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma in the second quarter worth $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $57,000. CWM LLC lifted its position in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after buying an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.