Leerink Partners Maintains a Buy on BridgeBio Pharma (BBIO) With a $56 PT

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is one of the best strong buy healthcare stocks to buy now. On July 14, Leerink Partners analyst Mani Foroohar maintained a Buy rating on BridgeBio Pharma, Inc. (NASDAQ:BBIO) and set a price target of $56.00.

The analyst based the rating on the company’s promising future prospects, stating that it is poised to expand its portfolio beyond the launch of Attruby in ATTR-CM, with three Phase 3 readouts anticipated in the next nine months.

The analyst sees this diversification as an optimistic development as it reduces the company’s reliance on a single asset, potentially bolstering its market position.

Foroohar also identified the BBP-418 program in limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9) as a notable opportunity for BridgeBio Pharma, Inc. (NASDAQ:BBIO), as it is a high-margin asset that focuses on a rare disease with considerable unmet needs.

This offers BridgeBio Pharma, Inc. (NASDAQ:BBIO) pricing flexibility and paves the way to accelerated approval, according to the firm.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a commercial-stage biopharmaceutical company that discovers, creates, tests, and delivers transformative medicines to treat patients suffering from genetic diseases and cancers.

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Disclosure: None. This article is originally published at Insider Monkey.