JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma (NASDAQ:BBIO) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $44.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 36.09% from the company’s current price.

BBIO has been the subject of a number of other reports. Bank of America raised their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Evercore ISI increased their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Citigroup boosted their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

BridgeBio Pharma Trading Down 1.3 %

Shares of NASDAQ:BBIO opened at $36.74 on Monday. The company has a market cap of $6.99 billion, a price-to-earnings ratio of -12.89 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47. The company has a 50-day moving average price of $34.17 and a 200 day moving average price of $29.16.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, equities analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares of the company’s stock, valued at $3,705,098.24. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,579,739 shares of company stock valued at $323,171,901. Corporate insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBIO. California State Teachers Retirement System lifted its position in shares of BridgeBio Pharma by 6.8% in the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock worth $3,174,000 after purchasing an additional 7,388 shares during the period. Jefferies Financial Group Inc. bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $5,076,000. Mackenzie Financial Corp lifted its holdings in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after buying an additional 592 shares during the period. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma during the 4th quarter valued at $109,000. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after acquiring an additional 40,000 shares during the period. Hedge funds and other institutional investors 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.