HC Wainwright Issues Positive Forecast for BridgeBio Pharma (NASDAQ:BBIO) Stock Price

BridgeBio Pharma (NASDAQ:BBIO) had its target price increased by HC Wainwright from $90.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 32.89% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Truist Financial raised their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Wells Fargo & Company lifted their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $82.05.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $75.25 on Tuesday. BridgeBio Pharma has a fifty-two week low of $28.33 and a fifty-two week high of $84.94. The stock has a market cap of $14.50 billion, a P/E ratio of -18.00 and a beta of 1.13. The firm’s fifty day moving average price is $75.62 and its 200-day moving average price is $63.52.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $74.40, for a total value of $2,976,000.00. Following the completion of the sale, the chief executive officer owned 775,686 shares in the company, valued at approximately $57,711,038.40. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $74.26, for a total value of $148,520.00. Following the sale, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This trade represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 178,167 shares of company stock worth $12,923,052. Company insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently added to or reduced their stakes in the company. Brooklands Fund Management Ltd purchased a new position in shares of BridgeBio Pharma in the fourth quarter valued at about $210,348,000. Norges Bank bought a new position in BridgeBio Pharma during the 2nd quarter valued at approximately $84,488,000. Invesco Ltd. lifted its holdings in BridgeBio Pharma by 40.3% in the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after buying an additional 1,127,592 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after buying an additional 987,273 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $50,956,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.