William Pickering, an analyst from Bernstein, has initiated a new Buy rating on BridgeBio Pharma (BBIO).
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William Pickering has given his Buy rating due to a combination of factors that suggest significant potential for BridgeBio Pharma’s stock. One of the primary reasons is the expected performance of their drug infigratinib, which is anticipated to become the new standard of care for achondroplasia, with a promising Phase 3 trial outcome projected for early 2026. Additionally, there is an overlooked opportunity in hypochondroplasia that could further boost its market position. The market share for infigratinib is expected to exceed 70%, with substantial peak sales both in the US and worldwide.
Another contributing factor is the potential of encaleret, which is expected to replicate its success in treating ADH1 in the chronic hypoparathyroidism market. Despite the small and short Phase 2 trial, the efficacy and safety profile of encaleret are promising. While there are some concerns regarding the long-term outlook for the ATTR-CM drug Attruby, particularly with the upcoming patent trial, the overall prospects for BridgeBio’s pipeline and the company’s strategic positioning justify the Buy rating, with a price target set at $94.
In another report released on December 4, Piper Sandler also maintained a Buy rating on the stock with a $98.00 price target.
BBIO’s price has also changed dramatically for the past six months – from $40.090 to $72.700, which is a 81.34% increase.