BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $50.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by JPMorgan Chase & Co. from $44.00 to $50.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

BBIO has been the topic of a number of other research reports. Evercore ISI boosted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America increased their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Scotiabank upped their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

BridgeBio Pharma Stock Down 1.7 %

NASDAQ BBIO opened at $36.10 on Monday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -12.67 and a beta of 1.07. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.47. The stock has a fifty day simple moving average of $34.19 and a 200 day simple moving average of $29.21.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. Research analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,579,739 shares of company stock worth $323,171,901. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ironwood Investment Management LLC grew its holdings in BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock worth $1,733,000 after buying an additional 338 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock worth $404,000 after acquiring an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock valued at $277,000 after purchasing an additional 844 shares during the last quarter. 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.