Piper Sandler raised the firm’s price target on BridgeBio (BBIO) to $63 from $46 and keeps an Overweight rating on the shares. The firm notes that the first full quarter for Attruby came in at $36.7M, ahead of the company-complied consensus and its estimate of $12.6M and $16.8M, respectively. Management indicated that they are seeing strong uptake in the treatment-naive patient population and the beat was not due to inventory. Piper thinks that the main reason for the beat was due to a lower proportion of patients being on the 28-day free drug program, higher conversion of free to paid, and a lower gross to net.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBIO:
- BridgeBio Pharma’s Attruby Outperforms Expectations, Analyst Raises Price Target to $50
- BridgeBio Pharma Reports Q1 2025 Earnings and Pipeline Progress
- BridgeBio reports Q1 EPS (88c), consensus ($1.00)
- BridgeBio Pharma options imply 8.2% move in share price post-earnings
- BridgeBio announces UK MHRA marketing authorization for acoramidis