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Investing.com - H.C. Wainwright raised its price target on BridgeBio Pharma (NASDAQ:BBIO) to $70.00 from $56.00 on Tuesday, while maintaining a Buy rating on the stock. The company, now valued at nearly $10 billion, has seen its shares surge about 89% year-to-date, according to InvestingPro data.
The firm cited stronger-than-expected sales of ATTRUBY (acoramidis) in the U.S. market. The drug generated $71.5 million in net sales during the second quarter of 2025, exceeding H.C. Wainwright’s original estimate of $56.2 million.
H.C. Wainwright has revised its sales projections for acoramidis upward, now forecasting $324.5 million for 2025 compared to its previous estimate of $280.3 million. For 2026, the firm projects total acoramidis net sales of $739.5 million, up from its earlier estimate of $609.2 million.
The research firm described acoramidis as a "well-established best-in-class TTR stabilizer" and noted that additional open-label data from the ATTRIBUTE-CM program will be presented at the European Society of Cardiology Congress in Madrid, Spain this weekend.
H.C. Wainwright also highlighted several near-term catalysts for BridgeBio, including the recent NASDAQ listing of BridgeBio Oncology Therapeutics, upcoming top-line data from the FORTIFY trial of BBP-418 in limb-girdle muscular dystrophy, and anticipated results from the Phase 3 CALIBRATE study of encaleret for autosomal dominant hypocalcemia type 1 in fall 2025.
In other recent news, BridgeBio Pharma reported its second-quarter 2025 earnings, revealing a significant rise in revenue. The company achieved a revenue of $110.6 million, surpassing the forecast of $99.72 million by 10.87%. Despite this revenue growth, the earnings per share (EPS) did not meet expectations, showing a loss of $0.95 compared to the anticipated loss of $0.75. BridgeBio Pharma’s Attruby sales also performed well, reaching $71.5 million, exceeding Oppenheimer’s estimate of $71 million and consensus expectations of $65 million. However, these sales fell short of broader market expectations. In response to these developments, Oppenheimer raised its price target for BridgeBio Pharma to $61.00, maintaining an Outperform rating. Additionally, TD Cowen reiterated its Buy rating and $60.00 price target on the company, citing strong Attruby sales as a positive factor. These updates reflect the recent developments surrounding BridgeBio Pharma.
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