BridgeBio Pharma’s (BBIO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BridgeBio Pharma (NASDAQ:BBIO) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $49.00 target price on the stock.

A number of other research firms have also recently commented on BBIO. Leerink Partners decreased their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Oppenheimer began coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Finally, 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 research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.

BridgeBio Pharma Stock Down 6.6 %

Shares of BBIO stock opened at $25.98 on Monday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a 50 day moving average price of $25.75 and a 200-day moving average price of $26.09. The firm has a market capitalization of $4.91 billion, a PE ratio of -10.78 and a beta of 1.08.

Insider Buying and Selling

In other news, 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 value of $613,787.49. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. First Turn Management LLC purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $10,178,000. Polar Asset Management Partners Inc. purchased a new stake in BridgeBio Pharma in the 3rd quarter valued at approximately $1,286,000. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of BridgeBio Pharma in the third quarter worth $1,136,000. Finally, Jennison Associates LLC acquired a new stake in shares of BridgeBio Pharma during the third quarter valued at $767,000. 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.