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We recently published an article titled Excellent Earnings Propelled Prices of These 10 Firms. In this article, we are going to take a look at where BridgeBio Pharma, Inc. (NASDAQ:BBIO) stands against the other stocks that soared on Wednesday.
The stock market finished Wednesday's trading on a lackluster note, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year that triggered fears of a possible recession.
Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.
Ten firms, on the other hand, managed to record strong gains, thanks to impressive earnings performance and optimistic outlooks for the rest of the year.
We have named 10 of the top-performing stocks on Wednesday and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million 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) rallied by 5.33 percent on Wednesday to finish at $38.36 each as investors cheered the company’s sales from its new heart drug, beating analyst expectations.
In its latest earnings release, BridgeBio Pharma, Inc. (NASDAQ:BBIO) said that its heart treatment Attruby was gaining traction with 2,072 prescriptions written by 756 prescribers as of April 25. The momentum built on encouraging numbers released in February helped propel the company’s share price.
Attruby’s positive development offset the company’s dismal earnings performance during the first quarter of the year.
During the period, BridgeBio Pharma, Inc. (NASDAQ:BBIO) widened its net loss by 371 percent to $169.6 million from $36 million in the same period a year earlier, while revenues fell by 45 percent to $116 million from $211 million year-on-year. Of the total revenue, $36.7 million was attributed to Attruby.
Overall BBIO ranks 7th on our list of the stocks that soared on Wednesday. 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 time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.