BridgeBio Pharma (NASDAQ:BBIO) Given New $100.00 Price Target at HC Wainwright

BridgeBio Pharma (NASDAQ:BBIO) had its target price increased by HC Wainwright from $90.00 to $100.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently commented on BBIO. Truist Financial increased their target price on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Leerink Partners increased their price objective on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Evercore reissued an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. The Goldman Sachs Group upped their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Barclays initiated coverage on BridgeBio Pharma in a report on Wednesday, January 28th. They set an “overweight” rating on the stock. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.05.

BridgeBio Pharma Trading Up 0.8%

Shares of BridgeBio Pharma stock opened at $75.85 on Tuesday. The company has a market capitalization of $14.62 billion, a P/E ratio of -18.15 and a beta of 1.13. The stock has a fifty day simple moving average of $75.70 and a 200 day simple moving average of $63.72. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $84.94.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the sale, the chief executive officer directly owned 695,686 shares of the company’s stock, valued at $50,047,650.84. This represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the completion of the transaction, the chief accounting officer owned 130,297 shares of the company’s stock, valued at $9,675,855.22. The trade was a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 178,167 shares of company stock worth $12,923,052. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma during the second quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth about $31,000. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the 1st quarter worth about $35,000. Finally, First Horizon Corp purchased a new position in BridgeBio Pharma during the 3rd quarter valued at about $36,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.