BridgeBio Pharma (NASDAQ:BBIO) Price Target Raised to $100.00

BridgeBio Pharma (NASDAQ:BBIO) had its target price raised by research analysts at HC Wainwright from $90.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 32.89% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler boosted their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Finally, Oppenheimer raised their price objective on BridgeBio Pharma from $81.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.05.

BridgeBio Pharma Trading Down 1.1%

BBIO stock opened at $75.25 on Tuesday. The firm has a market cap of $14.50 billion, a PE ratio of -18.00 and a beta of 1.13. The stock has a 50-day moving average price of $75.62 and a 200-day moving average price of $63.52. BridgeBio Pharma has a 1-year low of $28.33 and a 1-year high of $84.94.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 40,000 shares of the 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 completion of the transaction, the chief executive officer owned 695,686 shares in the company, valued at approximately $50,047,650.84. This represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were 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 in the company, valued at approximately $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 178,167 shares of company stock worth $12,923,052 over the last quarter. Company insiders own 18.20% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. Corient Private Wealth LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth $643,000. WINTON GROUP Ltd purchased a new stake in BridgeBio Pharma during the 2nd quarter worth about $3,856,000. Principal Financial Group Inc. boosted its stake in BridgeBio Pharma by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after purchasing an additional 236,885 shares during the period. Federated Hermes Inc. grew its holdings in BridgeBio Pharma by 53.0% during the 3rd quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock valued at $22,059,000 after buying an additional 147,108 shares in the last quarter. Finally, Bosun Asset Management LLC increased its position in shares of BridgeBio Pharma by 119.7% during the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after buying an additional 14,250 shares during the period. 99.85% of the stock is currently 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.