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TD Cowen Reiterates Buy Rating on BridgeBio Pharma (BBIO) on Strong Attruby Sales

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is one of the best Russell 2000 stocks to buy now. On August 6, TD Cowen reiterated its “Buy” rating on BridgeBio stock and maintained a price target of $60. TD Cowen cited the strong performance of BridgeBio’s drug Attruby, whose sales doubled in the second full quarter of availability, as the primary factor in its decision. The other reason the firm cited was the accelerating rate of new prescriptions per week.

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TD Cowen noted that gross-to-net discounts increased from 25% to over 35%, while free drug programs expanded from 45% to between 70% and 80%. The firm considers the improvements as an “indicator of first-line usage.” It also observed some utilization of patient assistance programs, with these metrics now stabilizing.

TD Cowen projected that the increase in free drug patients quarter-over-quarter will drive sales growth, adding that the drug with the best point estimates and lowest price will ultimately prevail in the $10-20 billion drug category managed by insurance companies over time.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotechnology company. It develops and commercializes therapies for genetic diseases and cancers with clear genetic drivers. The company’s pipeline includes treatments for conditions such as transthyretin amyloidosis, achondroplasia, and various rare metabolic disorders.

While we acknowledge the potential of BridgeBio Pharma, Inc. (NASDAQ:BBIO) as an investment, 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 the cheapest AI stock.

READ NEXT: 10 Best Energy Stocks to Buy For the Long Term and Top 10 Industrial Stocks to Buy Amid Easing Tariff Uncertainties.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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