Analyst Anupam Rama from J.P. Morgan reiterated a Buy rating on BridgeBio Pharma (BBIO – Research Report) and increased the price target to $50.00 from $44.00.
Anupam Rama has given his Buy rating due to a combination of factors that highlight BridgeBio Pharma’s promising position in the ATTR-CM market. The survey conducted among US cardiologists indicates a strong initial uptake of BridgeBio’s Attruby, with a significant portion of physicians favoring its clinical profile over competitors like Pfizer’s Vyndaqel/Vyndamax. This early success suggests a robust market penetration potential for Attruby, especially as the diagnosis of ATTR-CM is expected to rise, leading to a greater demand for novel therapies.
Anupam Rama’s rating also considers the broader pipeline of BridgeBio Pharma, which includes promising candidates such as encaleret, BBP-418, and infigratinib. These programs are anticipated to reach important developmental milestones in the near future, potentially adding significant value to the company. Furthermore, the revised price target for December 2025 reflects an optimistic outlook on the company’s growth trajectory, driven by the faster-than-expected increase in ATTR-CM diagnoses and the underappreciated potential of its pipeline.
Rama covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, BridgeBio Pharma, and Apellis Pharmaceuticals. According to TipRanks, Rama has an average return of -2.0% and a 39.39% success rate on recommended stocks.
In another report released on March 21, Piper Sandler also maintained a Buy rating on the stock with a $46.00 price target.