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Andrea Ellis, a director at BridgeBio Pharma, Inc. (NASDAQ:BBIO), recently sold 10,000 shares of the company’s common stock. The transaction, which took place on April 14, was executed at a price of $35 per share, totaling $350,000. This sale was carried out under a pre-established Rule 10b5-1 sales plan. The sale comes as BBIO shares have shown strong momentum, gaining nearly 29% over the past six months. According to InvestingPro data, analysts maintain a bullish outlook on the stock, with price targets ranging from $36 to $95.
In addition to the sale, Ellis also acquired 10,000 shares through the exercise of stock options at a price of $8.45 per share, amounting to a total value of $84,500. Following these transactions, Ellis holds 12,000 shares directly. The option exercise was part of a scheduled vesting plan that began in 2023 and will complete in 2025, contingent on Ellis’s continued service on the company’s Board of Directors. With a market capitalization of $6.4 billion and an overall financial health score rated as GOOD by InvestingPro, investors can access comprehensive insider trading analysis and 6 additional ProTips through the platform’s detailed research reports.
In other recent news, BridgeBio Pharma has reported significant advancements with its drug acoramidis, marketed as Attruby in the U.S. and Beyonttra in Japan, following a successful Phase 3 trial. The drug has shown a notable reduction in all-cause mortality and cardiovascular-related hospitalizations in patients with transthyretin amyloid cardiomyopathy (ATTR-CM). This positive outcome has led to the Japanese Ministry of Health approving Beyonttra for treating ATTR-CM, marking a crucial step for BridgeBio in expanding its global reach. In addition, BridgeBio will receive a $30 million milestone payment from Alexion (NASDAQ:ALXN), AstraZeneca (NASDAQ:AZN) Rare Disease, with plans to launch Beyonttra commercially in Japan by the first half of 2025.
Analysts have been optimistic, with Piper Sandler maintaining an Overweight rating and a $46 price target, citing the strong early performance of Attruby. Raymond (NSE:RYMD) James also upheld its Outperform rating with a $57 target, highlighting the drug’s competitive profile against existing treatments. Redburn-Atlantic initiated coverage with a Buy rating and a $50 target, expressing confidence in the rapid progress of Attruby’s rollout. These developments underscore BridgeBio’s strategic focus on genetic diseases and targeted therapies, with analysts anticipating further growth driven by the company’s pipeline and upcoming data releases.
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