Analysts Set BridgeBio Pharma, Inc. (NASDAQ:BBIO) Target Price at $79.05

BridgeBio Pharma, Inc. (NASDAQ:BBIO) has earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and twenty-two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $81.55.

Several brokerages recently commented on BBIO. Sanford C. Bernstein assumed coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price on the stock. The Goldman Sachs Group increased their price target on BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore reiterated an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Finally, Morgan Stanley began coverage on shares of BridgeBio Pharma in a report on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 price target for the company.

Insider Transactions at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at $9,675,855.22. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on 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 sale, the chief executive officer directly owned 695,686 shares of the company’s stock, valued at approximately $50,047,650.84. The trade was a 5.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 178,167 shares of company stock valued at $12,923,052 over the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBIO. Corient Private Wealth LLC purchased a new stake in BridgeBio Pharma during the second quarter worth about $643,000. WINTON GROUP Ltd purchased a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $3,856,000. Principal Financial Group Inc. increased its stake in shares of BridgeBio Pharma by 23.0% during 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 last quarter. Federated Hermes Inc. raised its holdings in shares of BridgeBio Pharma by 53.0% in the 3rd quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock worth $22,059,000 after purchasing an additional 147,108 shares during the period. Finally, Bosun Asset Management LLC lifted its stake in BridgeBio Pharma by 119.7% in the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after purchasing an additional 14,250 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Down 1.1%

BBIO stock opened at $75.25 on Tuesday. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of -18.00 and a beta of 1.13. The company’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $63.52. BridgeBio Pharma has a 12-month low of $28.33 and a 12-month high of $84.94.

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.