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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $95.00 price target on BridgeBio Pharma (NASDAQ:BBIO) ahead of the company’s upcoming earnings report. According to InvestingPro data, analysts maintain a strong bullish consensus on the stock, with price targets ranging from $41 to $95.
The research firm noted that BridgeBio’s stock has gained 68.48% year-to-date and is currently trading near its 52-week high of $48.68, but suggested the company is "just getting started" with its Attruby drug launch "proving doubters wrong." The company maintains strong liquidity with a current ratio of 4.57, indicating solid financial positioning for its growth initiatives.
BridgeBio is scheduled to report its financial results on Tuesday, August 5th, after market close.
Cantor Fitzgerald projects that BridgeBio’s pipeline could deliver more than $3 billion in peak revenue, which the firm believes justifies further upside to the current valuation.
The research firm also estimates that Attruby alone could generate more than $3 billion in peak revenue, suggesting the valuation gap between BridgeBio and Alnylam Pharmaceuticals (NASDAQ:ALNY) will "progressively close."
In other recent news, BridgeBio Pharma has been the focus of several significant developments. The company published a study in the American Journal of Human Genetics, confirming the genetic prevalence of autosomal dominant hypocalcemia type 1 (ADH1) and revealing a notable diagnostic gap. The study estimated that approximately 25,000 individuals in the U.S. and EU carry variants causing ADH1. On the financial front, BridgeBio entered a royalty financing agreement for its BEYONTTRA drug in Europe, resulting in a $300 million upfront payment. Following this deal, H.C. Wainwright maintained its Buy rating with a $56.00 price target.
In addition, BridgeBio’s drug Attruby has been gaining attention. Truist Securities initiated coverage with a Buy rating and a $66.00 price target, highlighting the strong launch of Attruby in treating transthyretin amyloid cardiomyopathy. Jefferies also initiated coverage with a Buy rating, projecting Attruby as a potential blockbuster. Citi reiterated its Buy rating and a $67.00 price target, following a webinar on BridgeBio’s pipeline drug BBP-418. These developments underscore the company’s active role in advancing its drug pipeline and securing financial agreements.
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