Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on BridgeBio Pharma. The associated price target remains the same with $70.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding BridgeBio Pharma’s promising developments. The company’s lead candidate, encaleret, has shown significant potential in treating post-surgical hypoparathyroidism by normalizing blood and urine calcium levels independently of parathyroid hormone. This is particularly noteworthy given the challenges associated with managing chronic hypoparathyroidism, where conventional therapies often fail to balance calcium levels effectively, leading to adverse effects.
Furthermore, the Phase 2 study results, which demonstrated rapid and sustained improvements in calcium handling, support the continued evaluation of encaleret as a viable oral treatment. Additionally, the ongoing Phase 3 trial, CALIBRATE, for autosomal dominant hypocalcemia type 1 (ADH1) is fully enrolled, and positive outcomes could lead to regulatory approval in the U.S. If successful, encaleret would be the first approved therapy for ADH1, potentially entering the market by late 2026 or early 2027. These developments underpin the reiterated Buy rating and a 12-month price target of $70 per share.
In another report released on September 3, J.P. Morgan also maintained a Buy rating on the stock with a $70.00 price target.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBIO in relation to earlier this year.