BridgeBio Pharma, Inc. (BBIO) Retains $68 Target on Strong Launch Dynamics

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is among the most promising biotech stocks to buy according to hedge funds. Analysts at Piper Sandler have reaffirmed their ‘Overweight’ rating on BridgeBio Pharma, Inc. (NASDAQ:BBIO) with an unchanged price target of $68, implying an upside potential of nearly 33%. This confidence is driven by the company’s unique efficacy profile that strengthens its launch dynamics.

During the conversation with the research firm’s team, management revealed that third-quarter performance is anticipated to be similar to the second quarter with respect to free-drug distribution and gross-to-net adjustments. What builds the bullish case even stronger for BridgeBio Pharma, Inc. (NASDAQ:BBIO) is the German launch of Beyonttra (Attruby), which appeared stronger than the initial U.S. launch, all of which is due to wide access at approval.

The company’s financials paint an equally attractive picture. While BridgeBio Pharma, Inc. (NASDAQ:BBIO) delivered one-year and three-year returns of 100.67% and 413.98%, respectively, the market returned merely 15.34% and 85.36%, respectively.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a California-based commercial-stage biopharmaceutical company developing transformative medicines for people living with genetic diseases and cancers. Founded in 2015, the company offers Attruby and low-dose infigratinib, among others.

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