Wolfe Research Initiates Coverage of BridgeBio Pharma (BBIO) with ‘Outperform’ Rating

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is one of the 10 biotech stocks screaming a buy. On June 17, Wolfe Research initiated coverage of the stock with an ‘Outperform’ rating and a $49 price target. The research firm reiterated the company’s solid position amid the “TTR craze” while also echoing its commercial execution strategy.

Wolfe Research Initiates Coverage of BridgeBio Pharma (BBIO) with 'Outperform' Rating

A medical technician wearing a lab coat operating machinery in a biopharmaceutical laboratory.

Consequently, Wolfe Research expects BridegBio’s revenue to total $569 million in 2025 before rising to $3.4 billion by 2028. It should peak at $4.4 billion in 2034. For the upcoming second quarter, the research firm expects the company to deliver revenue of $106 million, slightly below market expectation of $111 million.

While the stock has shown a remarkable return of 42% year to date, Wolfe Research insists it must navigate several challenges to maintain the positive momentum. It must navigate the potential Vyndaqel loss of exclusivity, achondroplasia data versus competition, and pipeline products. In addition, consistent revenue growth and expanding operating margins will be crucial to the company’s long-term success.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biopharmaceutical company that develops and delivers transformative medicines for genetic diseases. Its pipeline includes a range of development programs, from early science to advanced clinical trials.

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Disclosure: None.