BridgeBio Pharma (NASDAQ:BBIO) Stock Price Expected to Rise, Evercore ISI Analyst Says

BridgeBio Pharma (NASDAQ:BBIO) had its target price increased by research analysts at Evercore ISI from $45.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 81.75% from the company’s current price.

BBIO has been the topic of a number of other research reports. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price for the company. Bank of America raised their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.08.

BridgeBio Pharma Stock Performance

Shares of BBIO stock traded up $1.02 on Monday, reaching $27.51. The stock had a trading volume of 543,907 shares, compared to its average volume of 1,916,999. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32. The company has a 50 day simple moving average of $25.79 and a 200 day simple moving average of $26.07. The stock has a market cap of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.08.

Insider Buying and Selling at BridgeBio Pharma

In related 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 transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. 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 BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now directly 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. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several large investors have recently made changes to their positions in the company. Bfsg LLC increased its stake in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. Headlands Technologies LLC purchased a new position in BridgeBio Pharma during the second quarter worth about $48,000. Values First Advisors Inc. acquired a new position in BridgeBio Pharma in the 3rd quarter valued at about $57,000. CWM LLC grew its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of BridgeBio Pharma by 56.1% during 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 during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.