H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on BBIO stock, giving a Buy rating on September 12.
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 lead candidate, encaleret, which targets autosomal dominant hypocalcemia type 1 (ADH1). This condition is characterized by a high unmet medical need and is often underdiagnosed. Encaleret offers a novel approach as a negative allosteric modulator of the calcium-sensing receptor, potentially addressing the underlying pathophysiology that conventional therapies fail to correct.
The investigational drug has shown promising results in a Phase 2 trial, demonstrating a clinically meaningful and durable impact on ADH1 treatment. Over a 42-month period, encaleret effectively normalized blood calcium, PTH, and urine calcium levels in patients, with a favorable safety profile. With an estimated 12,000 patients affected by ADH1 in the U.S., the potential market for encaleret is significant. These factors contribute to Selvaraju’s positive outlook and the reiteration of a Buy rating with a 12-month price target of $70 per share.
In another report released on September 12, UBS also maintained a Buy rating on the stock with a $82.00 price target.