Leerink Partners Maintains a Buy on BridgeBio Pharma (BBIO) With a $56 PT

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is one of the best strong buy healthcare stocks to buy now. On July 14, Leerink Partners analyst Mani Foroohar maintained a Buy rating on BridgeBio Pharma, Inc. (NASDAQ:BBIO) and set a price target of $56.00.

BridgeBio (BBIO) Tanks After Selling Beyonttra Royalty Rights

A team of scientists in white lab coats reviewing lab results in a research facility.

The analyst based the rating on the company’s promising future prospects, stating that it is poised to expand its portfolio beyond the launch of Attruby in ATTR-CM, with three Phase 3 readouts anticipated in the next nine months.

The analyst sees this diversification as an optimistic development as it reduces the company’s reliance on a single asset, potentially bolstering its market position.

Foroohar also identified the BBP-418 program in limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9) as a notable opportunity for BridgeBio Pharma, Inc. (NASDAQ:BBIO), as it is a high-margin asset that focuses on a rare disease with considerable unmet needs.

This offers BridgeBio Pharma, Inc. (NASDAQ:BBIO) pricing flexibility and paves the way to accelerated approval, according to the firm.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a commercial-stage biopharmaceutical company that discovers, creates, tests, and delivers transformative medicines to treat patients suffering from genetic diseases and cancers.

While we acknowledge the potential of BBIO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BBIO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.