BMO Capital analyst Kostas Biliouris maintained a Hold rating on BridgeBio Pharma on July 11 and set a price target of $42.00.
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Kostas Biliouris has given his Hold rating due to a combination of factors surrounding BridgeBio Pharma’s current and future prospects. The primary focus remains on the sales performance of Attruby, which is a significant driver of the company’s valuation. While the interim Phase III results for BBP-418 are anticipated to show promising efficacy trends, the expected market reaction is likely to be modest, as the main valuation driver is still Attruby’s sales performance.
Biliouris also considers the regulatory pathway for BBP-418, noting the potential for accelerated approval due to consistent interactions with the FDA and support from patient advocacy groups. However, the final Phase III readout is not expected until 2027, and there are concerns about the frequency of gastrointestinal adverse events observed in Phase II trials. These factors contribute to a cautious outlook, justifying the Hold rating as investors await more definitive data and regulatory decisions.
Biliouris covers the Healthcare sector, focusing on stocks such as Legend Biotech, Sarepta Therapeutics, and Alnylam Pharma. According to TipRanks, Biliouris has an average return of -8.3% and a 38.25% success rate on recommended stocks.