RKT Stock – Leerink Partners Remains a Buy on BridgeBio Pharma (BBIO)
In a report issued on April 7, Mani Foroohar from Leerink Partners reiterated a Buy rating on BridgeBio Pharma (BBIO – Research Report). The company’s shares closed last Friday at $54.49.
According to TipRanks.com, Foroohar is a 2-star analyst with an average return of 0.4% and a 47.5% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Rocket Pharmaceuticals, and Intellia Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for BridgeBio Pharma with a $83.83 average price target, a 45.7% upside from current levels. In a report issued on March 26, Mizuho Securities also maintained a Buy rating on the stock with a $86.00 price target.
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BridgeBio Pharma’s market cap is currently $8.12B and has a P/E ratio of -15.30. The company has a price to Book ratio of 149.51.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BBIO in relation to earlier this year.
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BridgeBio Pharma, Inc. engages in developing transformative medicines to treat patients who suffer from mendelian diseases. Its pipeline of 15 development programs includes product candidates from early discovery to late-stage development. The firm develops BBP-265, an oral small molecule transthyretin for the treatment of TTR amyloidosis, including cardiomyopathy and polyneuropathy manifestations; infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor for the treatment of FGFR-driven cancers and in preclinical development for the treatment of achondroplasia; and BBP-631, a preclinical adeno-associated virus, gene transfer product candidate, for the treatment of congenital adrenal hyperplasia caused by 21OHD. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly and Neil Kumar on May 17, 2019 and is headquartered in Palo Alto, CA.