BridgeBio Pharma (NASDAQ:BBIO) Given New $46.00 Price Target at Citigroup

BridgeBio Pharma is a biopharmaceutical company that focuses on developing and commercializing therapies for rare genetic diseases. The company's lead product candidate is Cerezyme, an enzyme replacement therapy for Gaucher disease, which has been granted orphan drug designation by the US Food and Drug Administration (FDA). BridgeBio Pharma also has a pipeline of other potential therapies in development for various rare genetic diseases.

On Friday, Citigroup issued a research report on BridgeBio Pharma, raising its price target from $42.00 to $46.00. The brokerage currently has a buy rating on the stock, indicating that it believes the stock is undervalued and has potential for growth.

The company's stock has been the subject of several other research reports in recent months. For example, Wells Fargo & Company started coverage on BridgeBio Pharma in May 2021, with a price target of $50.00. Other analysts have also issued positive research reports on the company, citing its strong pipeline and potential for growth.

Overall, BridgeBio Pharma is a promising biopharmaceutical company with a focus on developing therapies for rare genetic diseases. The recent price target increase from Citigroup reflects the brokerage's confidence in the company's potential for growth and success.