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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating on BridgeBio Pharma (NASDAQ:BBIO), currently trading at $42.83, with a price target of $95.00. The stock has shown remarkable strength, delivering a 56% return year-to-date, as multiple upcoming catalysts are expected to drive the stock higher. According to InvestingPro data, analysts maintain a Strong Buy consensus on the stock.
The firm highlighted that BridgeBio’s Attruby launch is likely to push shares upward, with additional clinical milestones on the horizon that could further boost the company’s performance.
Key upcoming events include BBP-418 interim Phase 3 data in LGMD2I/R9 expected in the second half of 2025, with the company planning to host a webinar on this program next week.
BridgeBio also anticipates Encaleret Phase 3 data in ADH1 in the second half of 2025, according to information dated July 2, 2025, followed by Infigratinib Phase 3 data in achondroplasia expected in the first half of 2026.
Cantor Fitzgerald described BridgeBio as a "uniquely positioned company with a uniquely capable management team and Board," noting that it remains the firm’s top pick.
In other recent news, BridgeBio Pharma has made headlines with its $300 million royalty deal involving its ATTR-CM treatment, acoramidis, branded as BEYONTTRA in Europe. The company sold 60% of its European royalties to HealthCare Royalty and Blue Owl Capital, with payments capped at 1.45 times the initial amount. This transaction, part of a licensing agreement with Bayer (OTC:BAYRY), aims to strengthen BridgeBio’s balance sheet and support the U.S. launch of ATTRUBY and ongoing R&D projects. Analysts from Raymond (NSE:RYMD) James have maintained an Outperform rating, citing the deal as a solution to cash burn concerns and projecting a positive sales trajectory for acoramidis. Citi has also reiterated a Buy rating, with expectations of $43.6 million in revenue from ATTRUBY in the second quarter of 2025. Wolfe Research has initiated coverage with an Outperform rating, forecasting significant revenue growth for BridgeBio in the coming years. Additionally, H.C. Wainwright has increased its price target to $56, reflecting optimism about the company’s financial prospects and revised revenue forecasts. These developments indicate a strong market interest in BridgeBio’s strategic moves and future potential.
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