SVB Leerink Trims BridgeBio Pharma (NASDAQ:BBIO) Target Price to $19.00

BridgeBio Pharma (NASDAQ:BBIOGet Rating) had its price target lowered by SVB Leerink from $23.00 to $19.00 in a report issued on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $20.00 to $19.00 and set an overweight rating for the company in a report on Friday, November 18th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $20.80.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $8.52 on Monday. The business has a 50 day simple moving average of $8.54 and a two-hundred day simple moving average of $9.73. BridgeBio Pharma has a 12 month low of $4.98 and a 12 month high of $12.64. The stock has a market capitalization of $1.27 billion, a P/E ratio of -2.54 and a beta of 0.62.

BridgeBio Pharma (NASDAQ:BBIOGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.09. The firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $6.26 million. As a group, research analysts anticipate that BridgeBio Pharma will post -3.89 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 34,640 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $9.40, for a total transaction of $325,616.00. Following the completion of the sale, the chief executive officer now owns 4,813,197 shares of the company’s stock, valued at $45,244,051.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BridgeBio Pharma news, CEO Neil Kumar sold 34,640 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $9.40, for a total transaction of $325,616.00. Following the completion of the sale, the chief executive officer now owns 4,813,197 shares of the company’s stock, valued at $45,244,051.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 19,678 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $9.40, for a total value of $184,973.20. Following the sale, the chief financial officer now directly owns 341,264 shares of the company’s stock, valued at approximately $3,207,881.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,358 shares of company stock valued at $1,899,166. 29.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kore Private Wealth LLC boosted its position in shares of BridgeBio Pharma by 2.6% during the third quarter. Kore Private Wealth LLC now owns 39,243 shares of the company’s stock worth $390,000 after buying an additional 1,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of BridgeBio Pharma by 6.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,878 shares of the company’s stock worth $247,000 after buying an additional 1,613 shares during the period. Martingale Asset Management L P boosted its position in shares of BridgeBio Pharma by 4.3% during the third quarter. Martingale Asset Management L P now owns 41,375 shares of the company’s stock worth $412,000 after buying an additional 1,694 shares during the period. Arizona State Retirement System boosted its position in shares of BridgeBio Pharma by 13.1% during the second quarter. Arizona State Retirement System now owns 18,001 shares of the company’s stock worth $163,000 after buying an additional 2,086 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of BridgeBio Pharma by 16.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,589 shares of the company’s stock worth $145,000 after buying an additional 2,091 shares during the period. 96.46% of the stock is currently owned by hedge funds and other institutional investors.

About BridgeBio Pharma

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BridgeBio Pharma, Inc engages in identifying and advancing transformative medicines to treat patients who suffer from Mendelian diseases. Its pipeline of development programs includes product candidates ranging from early discovery to late-stage development. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly, and Neil Kumar in 2015 and is headquartered in Palo Alto, CA.

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