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Citi&nbsp;initiated coverage on&nbsp;BridgeBio Pharma Inc&nbsp;BBIO, a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, noting an optimistic outlook on the stock.

The analyst&nbsp;David Lebowitz&nbsp;says the optimistic outlook stems from the substantial market potential of acoramidis, particularly following its recent Phase 3 successes in treating ATTR cardiomyopathy (ATTR-CM).&nbsp;

ATTR-CM primarily affects the heart, as clumps of amyloid are&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/08/34070722/whats-going-on-with-bridgebio-pharma-stock-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">deposited in the heart tissue</a>.

Citi initiates with a recommendation of Buy/High Risk and a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/BBIO/analyst-ratings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">price target of $42</a>.

The analysts anticipate that acoramidis could achieve blockbuster sales levels following its expected launch in the second half of 2024.&nbsp;

In addition, the prospects for infigratinib, BBIO&#39;s candidate for dwarfism, are expected to be highly promising.&nbsp;

In March, BridgeBio Pharma said that at the highest dose level evaluated (Cohort 5, 0.25 mg/kg once daily), the mean increase from baseline in annualized height velocity for the ten children with six-month visits&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/03/31217043/bridgebios-dwarfism-candidate-shows-favorable-height-increase-safety-profile" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">was +3.03 cm/yr</a>.

Moreover, BridgeBio Pharma&#39;s pipeline includes other notable candidates, such as encaleret and BBP-418, which can become significant contributors to the company&#39;s growth and valuation.

Price Action:&nbsp;BBIO shares closed higher by 5.42% at $29.39 on Tuesday.

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Citi&nbsp;initiated coverage on&nbsp;BridgeBio Pharma Inc&nbsp;(NASDAQ: BBIO), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, noting an optimistic outlook on the stock.

Rare Disease Player BridgeBio Pharma's Upside Potential Is Significant According to Citi Analyst - Here's Why - BridgeBio Pharma (NASDAQ:BBIO)

Vandana Singh

BridgeBio Pharma

Citi&nbsp;initiated coverage on&nbsp;BridgeBio Pharma Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbio#NASDAQ">BBIO</a>), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, noting an optimistic outlook on the stock.

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Rare Disease Player BridgeBio Pharma's Upside Potential Is Significant According to Citi Analyst - Here's Why

BridgeBio Pharma Inc

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