Leerink Partners analyst Mani Foroohar has maintained their bullish stance on BBIO stock, giving a Buy rating on February 21.
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Mani Foroohar’s rating is based on several positive developments regarding BridgeBio Pharma’s performance and prospects. The company has shown strong demand for its recently launched drug, Attruby, with a significant number of unique prescriptions written by healthcare professionals, indicating a broadening prescriber base and potential for continued growth in the market.
Additionally, BridgeBio Pharma is advancing its pipeline with completed enrollment in critical late-stage programs, which bodes well for future product launches. The company’s financial position is bolstered by substantial cash reserves and anticipated milestone payments, providing a strong foundation for ongoing research and development efforts. These factors contribute to a favorable outlook and support the Buy rating.
In another report released on February 21, Scotiabank also maintained a Buy rating on the stock with a $52.00 price target.
Based on the recent corporate insider activity of 29 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.