BridgeBio Pharma (NASDAQ:BBIO) Given New $50.00 Price Target at Evercore ISI

BridgeBio Pharma (NASDAQ:BBIO) had its price target lifted by Evercore ISI from $45.00 to $50.00 in a research report released on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

BBIO has been the topic of several other research reports. Scotiabank boosted their price target 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. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. Finally, Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Trading Up 2.7 %

BBIO opened at $28.53 on Monday. The stock’s 50 day simple moving average is $25.89 and its 200-day simple moving average is $26.07. The stock has a market cap of $5.39 billion, a PE ratio of -11.84 and a beta of 1.08. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $44.32.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after acquiring an additional 19,978 shares during the last quarter. Exome Asset Management LLC increased its position in BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock worth $5,372,000 after purchasing an additional 132,093 shares during the period. Geode Capital Management LLC raised its holdings in BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after purchasing an additional 123,540 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after purchasing an additional 127,853 shares during the last quarter. Finally, Barclays PLC lifted its position in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after purchasing an additional 131,743 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

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.