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Investing.com - TD Cowen has maintained its Buy rating and $60.00 price target on BridgeBio Pharma (NASDAQ:BBIO) following the company’s strong performance in Attruby sales. The stock has shown remarkable momentum, gaining nearly 98% over the past year and 50% in the last six months. According to InvestingPro data, analysts maintain a strong bullish consensus with price targets ranging from $41 to $95.
The firm noted that Attruby sales doubled in the second full quarter of availability, with the rate of new prescriptions per week showing acceleration.
TD Cowen estimates that gross-to-net discounts increased from 25% to over 35%, while free drug programs expanded from 45% to between 70-80%, which the firm considers an indicator of first-line usage.
The research firm also observed some patient assistance program utilization, with these metrics now stabilizing across the board.
TD Cowen projects that the increase in free drug patients quarter-over-quarter will drive sales growth, adding that the drug with the best point estimates and lowest price will ultimately prevail as insurance companies manage this $10-20 billion drug category over time.
In other recent news, BridgeBio Pharma reported its second-quarter 2025 earnings, revealing a notable revenue increase to $110.6 million, which exceeded the forecast of $99.72 million by 10.87%. Despite this revenue surge, the company’s earnings per share fell short of expectations, posting a loss of $0.95 against the anticipated loss of $0.75. Additionally, BridgeBio’s second-quarter Attruby sales reached $71.5 million, surpassing both Oppenheimer’s estimate of $71 million and consensus expectations of $65 million. Following these developments, Oppenheimer raised its price target for BridgeBio Pharma to $61 from $60, while maintaining an Outperform rating on the stock. These recent developments highlight a mixed financial performance for BridgeBio Pharma, with strong revenue figures but disappointing earnings results.
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