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BridgeBio Pharma Inc (NASDAQ:BBIO)’s stock recently reached a new 52-week high, hitting $42.91, with the current trading price at $42.95. According to InvestingPro data, analyst price targets range from $41 to $95, suggesting potential upside. This milestone underscores a significant upward trajectory for the company, as the stock has experienced an impressive 82.63% increase over the past year. With a market capitalization of $8.12 billion and a strong current ratio of 4.57, the surge in stock price reflects growing investor confidence in BridgeBio Pharma’s strategic initiatives and potential market opportunities. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 8 additional exclusive insights available to subscribers. The achievement of this 52-week high marks a pivotal moment for the company, as it continues to build on its momentum in the pharmaceutical industry, with analysts forecasting 91% revenue growth for the current fiscal year.
In other recent news, BridgeBio Pharma has been the focus of several analyst updates and significant trial results. Wolfe Research initiated coverage with an outperform rating and set a price target of $49, projecting BridgeBio’s revenue to reach $569 million in 2025 and grow to $3.4 billion by 2028. H.C. Wainwright maintained a Buy rating, raising the price target to $56, reflecting an optimistic view on financial prospects and noting the approval and sales momentum of their drug, acoramidis, for treating ATTR-CM. Piper Sandler reiterated an Overweight rating with a $63 price target, expressing confidence in the upcoming Phase 3 readout of the CALIBRATE study for encaleret, a drug aimed at treating autosomal dominant hypocalcemia type 1.
BMO Capital raised its price target to $42, maintaining a Market Perform rating, based on updated expectations for second-quarter sales performance of acoramidis, which showed a significant growth projection. BridgeBio’s acoramidis showed promising results in the ATTRibute-CM Phase 3 trial, linking early and sustained increases in serum TTR levels to improved survival rates in patients with ATTR-CM. The study, published in the Journal of the American College of Cardiology, highlighted a reduction in all-cause mortality and cardiovascular-related hospitalizations. Acoramidis, approved in the U.S. and other regions, is noted for its nearly complete stabilization of TTR, and these findings may influence clinical practice by establishing serum TTR as a potential biomarker for treatment decisions.
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