Piper Sandler Boosts BridgeBio Pharma (NASDAQ:BBIO) Price Target to $63.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price lifted by research analysts at Piper Sandler from $46.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 64.06% from the stock’s previous close.

BBIO has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. HC Wainwright boosted their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Redburn Atlantic initiated coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a “buy” rating and a $50.00 price target for the company. UBS Group upped their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $57.09.

BridgeBio Pharma Trading Up 0.1 %

Shares of BBIO stock opened at $38.40 on Wednesday. The company has a market capitalization of $7.29 billion, a P/E ratio of -13.47 and a beta of 1.08. The business’s 50 day moving average is $33.97 and its two-hundred day moving average is $30.75. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. The business’s quarterly revenue was down 44.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) earnings per share. As a group, equities analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 31,543 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the transaction, the chief executive officer now owns 211,718 shares in the company, valued at $7,651,488.52. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,309,191 shares of company stock valued at $208,544,821. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after acquiring an additional 879,059 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares during the period. Farallon Capital Management LLC boosted its position in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after purchasing an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. grew its stake in BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after buying an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors increased its position in BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after buying an additional 912,439 shares during the period. 99.85% of the stock is currently owned by 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.