Anupam Rama, an analyst from J.P. Morgan, maintained the Buy rating on BridgeBio Pharma. The associated price target was raised to $70.00.
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Anupam Rama has given his Buy rating due to a combination of factors that highlight BridgeBio Pharma’s promising future. The company has been added to the Positive Catalyst Watch List in anticipation of significant developments in its pipeline over the next six months. The strong launch of Attruby, a key product, has exceeded expectations and is projected to reach peak sales of approximately $2 billion in the U.S., which is a substantial increase from previous estimates.
Furthermore, the discontinuation of a competing product by Pfizer could potentially benefit Attruby’s market position. The upcoming pivotal data releases for key pipeline assets such as encaleret, BBP-418, and infigratinib are expected to be positive, based on prior data, and could significantly boost the company’s stock value. Anupam Rama’s analysis suggests that these developments create a favorable risk-reward scenario, with the potential for substantial share price appreciation, supporting the Buy rating.
Rama covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Replimune Group, and Apellis Pharmaceuticals. According to TipRanks, Rama has an average return of -4.0% and a 43.58% success rate on recommended stocks.
In another report released today, UBS also reiterated a Buy rating on the stock with a $72.00 price target.