Analyst Jason Zemansky from Bank of America Securities reiterated a Buy rating on BridgeBio Pharma (BBIO – Research Report) and keeping the price target at $46.00.
Jason Zemansky has given his Buy rating due to a combination of factors that highlight BridgeBio Pharma’s potential. Despite a challenging market environment, the company’s shares have shown significant growth year-to-date, primarily driven by the promising initial performance of Attruby’s ATTR-CM launch. This success is attributed to the drug’s strong positioning and the effective efforts of BridgeBio’s sales team, even though there are some delays in getting patients on therapy.
Zemansky acknowledges the uncertainties surrounding Attruby’s complete clinical impact compared to competitors like Pfizer’s tafamidis. However, the early signs of clinical benefits, competitive pricing, and favorable survival data make it an attractive option for prescribers. Additionally, while there is ongoing debate about the role of silencers in treatment sequencing, stabilizers like Attruby are expected to remain a primary choice due to prescriber familiarity and other logistical advantages. These factors, combined with the overlooked potential of BridgeBio’s late-stage portfolio, support the Buy recommendation.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $53.00 price target.