Tiago Fauth, an analyst from Wells Fargo, maintained the Buy rating on BridgeBio Pharma. The associated price target remains the same with $76.00.
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Tiago Fauth has given his Buy rating due to a combination of factors surrounding BridgeBio Pharma’s potential with BBP-418. The company’s focus on addressing LGMD2I/R9, a condition with limited treatment options, positions BBP-418 as a potentially groundbreaking therapy. The drug aims to modify the disease by targeting the foundational defect, which could significantly improve patient outcomes.
Fauth notes that the interim analysis of the FORTIFY study, expected in the second half of 2025, is crucial. The study’s design emphasizes stabilization as a key achievement, and if the results replicate the Phase 2 data, it could lead to widespread adoption. The oral administration and favorable safety profile of BBP-418 further enhance its appeal, making it a compelling option for patients and a promising investment opportunity.
In another report released on July 10, Citi also maintained a Buy rating on the stock with a $67.00 price target.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBIO in relation to earlier this year.