Bullish indicating open at $55-$60, IPO prices at $37
BridgeBio Pharma, Inc. (NASDAQ:BBIO), a $6.85 billion market cap company trading near its 52-week high of $37.76, recently saw insider trading activity from its Chief Financial Officer, Brian C. Stephenson. On February 19, Stephenson sold 4,148 shares of common stock at an average price of $36.16, totaling $149,973. This transaction was part of a Rule 10b5-1 plan, which allows insiders to set up a predetermined plan to sell stocks. According to InvestingPro data, the stock has shown remarkable strength with a 15% gain in the past week.
In addition to the sale, Stephenson also had other notable transactions. On February 16, he acquired 25,798 shares of common stock through the exercise of Restricted Stock Units (RSUs). However, to cover tax obligations related to the vesting of these shares, 13,102 shares were withheld by the company at $34.90 each, amounting to $457,259. The company maintains strong liquidity with a current ratio of 3.19, indicating solid financial flexibility.
Following these transactions, Stephenson holds 102,464 shares of BridgeBio Pharma common stock. The company’s stock transactions and Stephenson’s decisions are being closely monitored by investors, reflecting the ongoing interest in BridgeBio’s financial activities. Analysts maintain a bullish outlook with price targets ranging from $36.40 to $70.00. For deeper insights into BridgeBio’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which offers exclusive analysis of 1,400+ top stocks.
In other recent news, BridgeBio Pharma has announced significant advancements in its commercial and clinical endeavors. The company reported a strong launch for its newly approved drug, Attruby, with 430 prescriptions written by 248 unique healthcare providers since its FDA approval in late 2024. In addition, BridgeBio has completed enrollment for three major Phase 3 clinical trials, with results expected in the second half of 2025. Financially, BridgeBio reported $406 million in cash and an additional $500 million from a royalty facility, with anticipated regulatory milestones of $105 million from expected approvals in Europe and Japan in early 2025.
Analysts have also shown optimism regarding BridgeBio’s prospects. Piper Sandler maintained its Overweight rating and a $46 price target, citing strong survey results indicating promising uptake for Attruby. The firm’s projections suggest that Attruby’s sales could reach $205 million in 2025, surpassing previous estimates. Scotiabank (TSX:BNS) also increased its price target for BridgeBio to $49, reflecting confidence in the European launch of acoramidis, marketed as Beyonttra, after receiving European Commission approval.
The approval of Beyonttra is a significant milestone for BridgeBio and its partner Bayer (OTC:BAYRY), expanding the market potential for acoramidis. Meanwhile, Piper Sandler highlighted the potential impact of Medicare coverage differences on market adoption, noting that Attruby’s Part D coverage might offer an advantage over competitors covered under Part B. These developments underscore the positive outlook for BridgeBio’s growth and its strategic positioning in the treatment of genetic diseases.
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