Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on BridgeBio Pharma and increased the price target to $80.00 from $70.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Ram Selvaraju has given his Buy rating due to a combination of factors, primarily the impressive results from BridgeBio Pharma’s Phase 3 FORTIFY trial for their lead candidate BBP-418. The trial demonstrated significant improvements in key biomarkers and clinical endpoints for patients with limb girdle muscular dystrophy type 2I/R9, with statistically significant increases in glycosylated alpha-dystroglycan and reductions in serum creatine kinase. These results suggest a strong correlation between biomarker impact and functional benefits, supporting a favorable risk-benefit profile for BBP-418.
Furthermore, the potential for BBP-418’s market entry in late 2026, coupled with its previous designations as an Orphan Drug and Fast Track status, enhances its approval prospects. BridgeBio’s plans to engage with the FDA and submit a New Drug Application in the first half of 2026 further solidify the outlook. The anticipated pricing strategy, in line with other high-cost muscular dystrophy treatments, also contributes to the positive valuation assessment, leading to an increased price target of $80 per share.
In another report released yesterday, Raymond James also maintained a Buy rating on the stock with a $69.00 price target.