Is BridgeBio Pharma, Inc. (BBIO) Among Tuesday’s Top Gainers?

We recently published an article titled 10 Firms Post Impressive Gains on Tuesday. In this article, we are going to take a look at where BridgeBio Pharma, Inc. (NASDAQ:BBIO) stands against the other firms.

Ten companies posted significant gains on Tuesday, mirroring the upward movement of two key Wall Street indices. The Dow Jones Industrial Average rose by 0.52%, while the S&P 500 edged up by 0.11%.

A combination of positive catalysts—including strategic partnerships, strong earnings reports, and favorable analyst outlooks—helped drive their performance. In this article, we highlight the top 10 gainers and explore the factors behind their impressive gains.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A team of scientists in white lab coats reviewing lab results in a research facility.

BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) grew for a second day on Tuesday as traders continued to cheer news of high demand for its newly approved drug Attruby.

During the trading day, the company rallied by 5.56 percent to finish at $35.60 following announcements that Attruby has seen a substantial demand with 430 prescriptions from 248 unique healthcare providers. Attruby is a prescription medicine used to treat adults with a disease that affects the heart muscle called cardiomyopathy.

The early success highlighted the medical community’s recognition of the need for new treatment options for patients with this progressive, fatal disease. It also bolstered investor sentiment for the next stage of clinical trials for three potential assets—Fortify, for the potential treatment of limb-girdle muscular dystrophy type 2I/R9; Calibrate, for autosomal dominant hypocalcemia type 1; and Propel 3, achondroplasia.

Each trial is expected to complete its last patient visit and release the results in the second half of the year.

Overall BBIO ranks 10th on our list of Tuesday’s top gainers. While we acknowledge the potential of BBIO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than BBIO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.