Analyst David Lebowitz of Citi maintained a Buy rating on BridgeBio Pharma, retaining the price target of $67.00.
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David Lebowitz has given his Buy rating due to a combination of factors related to BridgeBio Pharma’s recent data presentation and financial performance. The company showcased promising follow-up data from its Phase 3 ATTRibute-CM study for acoramidis, which demonstrated a significant reduction in cardiovascular mortality risk by 44% over 42 months. This data suggests a clinically meaningful benefit for patients, reinforcing the drug’s potential effectiveness.
Additionally, the financial performance of BridgeBio Pharma has been strong, with the launch of acoramidis outperforming revenue expectations. The drug generated $36.7 million and $71.5 million in its first and second full quarters, respectively. These factors, combined with a projected 29.4% expected share price return, underpin Lebowitz’s Buy rating for BridgeBio Pharma.
In another report released on August 29, H.C. Wainwright also reiterated a Buy rating on the stock with a $70.00 price target.