BridgeBio Pharma stock hits 52-week high, reaching $45.53

BridgeBio Pharma Inc (NASDAQ:BBIO)’s stock has reached a new 52-week high, touching $45.53, with a market capitalization of $8.57 billion. This milestone comes amidst a remarkable 1-year change, with the stock appreciating by 70.21%. According to InvestingPro data, analyst targets range from $41 to $95, suggesting potential further upside. The surge in BridgeBio Pharma’s stock price reflects investor confidence and positive market sentiment towards the company’s recent developments and future prospects. The company maintains a "Fair" overall Financial Health Score, with particularly strong momentum metrics. As the stock reaches this new high, market analysts and investors alike are closely watching for any potential catalysts that could further influence its trajectory. Discover more detailed insights and 10+ additional ProTips with InvestingPro’s comprehensive analysis tools.

In other recent news, BridgeBio Pharma has been active with several significant developments. The company announced a $300 million royalty deal involving the sale of 60% of its European royalties for the ATTR-CM drug, marketed as Beyonttra, to HealthCare Royalty and Blue Owl Capital. This transaction aims to bolster BridgeBio’s balance sheet and support the U.S. launch of Attruby, the American brand name for acoramidis. Wolfe Research initiated coverage on BridgeBio with an outperform rating and a price target of $49.00, projecting substantial revenue growth in the coming years. Additionally, Cantor Fitzgerald reiterated its Overweight rating on the company, citing multiple upcoming catalysts and clinical milestones expected to drive performance. Raymond (NSE:RYMD) James also maintained an Outperform rating, noting the royalty sale addresses cash burn concerns and extends BridgeBio’s financial runway. Citi analyst David Lebowitz continues to support BridgeBio with a Buy rating, estimating second-quarter revenue of $43.6 million from Attruby. These developments reflect BridgeBio’s strategic efforts to strengthen its financial position and advance its clinical programs.

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