Our Stock of the Week is BridgeBio Pharma (BBIO). This biopharmaceutical company is focused on developing and delivering transformative medicines for patients with genetic diseases and cancers with clear genetic drivers.
BridgeBio’s pipeline consists of over 20 development programs ranging from early discovery to late-stage development. Its key pipeline asset is Attruby, which received FDA approval in November for treatment for transthyretin amyloid cardiomyopathy (ATTR-CM). BBIO has late-stage programs for limb-girdle muscular dystrophy, autosomal dominant hypocalcemia type 1, and for achondroplasia. BBIO also has an oncology pipeline.
The stock has reacted very favorably to news that as of February 17, 2025, 1,028 unique patient prescriptions for Attruby have been written by 516 unique prescribers. This is far above expectations and has caused analysts to reiterate buy recommendations and raise target prices to an average of $54.45, with a high target of $95 from Cantor Fitzgerald.
Technically, the stock has formed a cup-with-handle pattern over the past year. On February 20, it gapped up on its earnings report but was unable to gain momentum, likely due to poor market conditions. It held up well on Friday, when the broad market was hit hard, and is showing signs of strong underlying support.
As always, we will not chase strength on Monday but will be looking for opportunities to aggressively trade the stock on volatility.
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This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and buy or sell anytime for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing no positions in BBIO. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
