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Investing.com - Jefferies maintained its Buy rating and $70.00 price target on BridgeBio Pharma (NASDAQ:BBIO) on Wednesday, citing the potential of the company’s encaleret program. The stock has shown remarkable momentum, delivering nearly 95% returns year-to-date, according to InvestingPro data, which also reveals a strong analyst consensus rating of 1.4 (Strong Buy).
The research firm expressed confidence in encaleret’s Phase III CALIBRATE study in ADH1, assigning it a greater than 60% probability of success. Jefferies believes a positive outcome could drive the stock up 5-15%, while a negative result might push shares down 10-15%. With analyst targets ranging from $41 to $95, and the company maintaining a healthy liquidity position with a current ratio of 5.19, BridgeBio appears well-positioned to fund its clinical programs.
Encaleret, an oral CaSR antagonist, represents a potential $1 billion plus opportunity in the ADH1 market according to the firm’s analysis. BridgeBio plans to file a New Drug Application (NDA) in 2026 if the trial succeeds.
The drug is also expected to begin a separate Phase III trial in 2026 for hypoparathyroidism, which Jefferies describes as another potential $1 billion plus market opportunity.
Updated Phase I/II data for encaleret has strengthened the overall thesis that the drug can normalize blood and urine calcium levels, potentially creating "the next leg of growth" for BridgeBio beyond its Attruby product.
In other recent news, BridgeBio Pharma has reported significant developments that are capturing investor attention. The company announced positive Phase 2 results for its investigational therapy, encaleret, which effectively normalized blood and urine calcium levels in patients with post-surgical hypoparathyroidism. These results were presented at the American Society for Bone and Mineral Research Annual Meeting 2025, with 80% of participants achieving normal levels within five days. Additionally, the drug was well-tolerated with no serious adverse events reported.
In a separate development, BridgeBio’s therapy, Attruby, has demonstrated strong sales performance. H.C. Wainwright raised its price target for BridgeBio to $70, citing stronger-than-expected sales of Attruby, which generated $71.5 million in net sales during the second quarter of 2025. JPMorgan also raised its price target to $70, highlighting a robust launch for Attruby. TD Cowen maintained its Buy rating, noting that Attruby sales doubled in the second full quarter of availability. These developments reflect a positive outlook from analysts on BridgeBio’s recent performance.
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