With a market capitalization of $5.3 billion, BridgeBio Pharma (BBIO) is a mid-cap biopharmaceutical company that specializes in treating patients suffering from genetic diseases. The company has earned a "Strong Buy" rating from the analyst community thanks to its unique business model and promising pipeline. The U.S. Food and Drug Administration (FDA) recently approved its lead drug candidate, Acoramidis (brand name Attruby), which has the potential to be a blockbuster for the company.
Analysts believe that the successful commercialization of Acoramidis could boost its stock price to around $70, representing a 150% increase over the next 12 months. BBIO stock is down 31.5% year to date, while the S&P 500 Index ($SPX) is up 24%. Let’s find out if it is the right time to consider this biotech stock.
