Leerink Partners analyst Mani Foroohar maintained a Buy rating on BridgeBio Pharma yesterday and set a price target of $56.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mani Foroohar has given his Buy rating due to a combination of factors that highlight BridgeBio Pharma’s promising future prospects. The company is poised to diversify its portfolio beyond the launch of Attruby in ATTR-CM, with three Phase 3 readouts expected in the next nine months. This diversification is seen as a positive development, reducing reliance on a single asset and potentially enhancing the company’s market position.
Additionally, the BBP-418 program in limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9) is identified as a significant opportunity. It is a high-margin asset targeting a rare disease with substantial unmet needs, offering pricing flexibility and a pathway to accelerated approval. The potential for BBP-418 to capture a large share of the LGMD2I/R9 market, if approved, is bolstered by its clean safety profile and oral administration route, contributing to the increase in the price target from $53 to $56.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $67.00 price target.
BBIO’s price has also changed moderately for the past six months – from $35.605 to $47.690, which is a 33.94% increase.