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Investing.com - TD Cowen has reiterated its Buy rating and $60.00 price target on BridgeBio Pharma (NASDAQ:BBIO), currently trading at $52.86 with a market cap of $10.1 billion, ahead of upcoming Phase III clinical trial results for encaleret in ADH1 patients. According to InvestingPro data, analyst consensus remains strongly bullish with targets ranging from $41 to $95.
The firm’s decision follows a key opinion leader (KOL) event hosted by BridgeBio, which provided insights into the expected Phase III data release scheduled for Fall 2025. The stock has shown remarkable momentum, gaining over 70% in the past six months.
TD Cowen noted that the Phase III trial is "about as derisked as Phase III trials get," citing the 69% calcium normalization rate observed in the earlier Phase IIb study of encaleret.
According to the KOL cited by TD Cowen, any level of benefit would be clinically meaningful compared to the current standard of care, which achieves approximately 0% normalization, while a 50% response rate would be considered exceptional.
The firm anticipates regulatory approval for encaleret in 2026, projecting peak sales for the drug to approach $1 billion.
In other recent news, BridgeBio Pharma has been the focus of several analyst updates and clinical developments. The company has received positive attention for its investigational therapy, encaleret, which demonstrated effectiveness in normalizing blood and urine calcium levels in patients with post-surgical hypoparathyroidism, according to Phase 2 study results. This data was presented at the American Society for Bone and Mineral Research Annual Meeting 2025, showing promising results with 80% of participants achieving normal calcium levels. Analysts at H.C. Wainwright reiterated their Buy rating and a $70.00 price target, expressing optimism following these positive results.
Additionally, Truist Securities and Jefferies both maintained their Buy ratings on BridgeBio, with price targets of $66.00 and $70.00, respectively, based on the potential success of the encaleret program in its Phase 3 CALIBRATE study for ADH1. Jefferies assigned a greater than 60% probability of success to this study. Meanwhile, JPMorgan raised its price target for BridgeBio to $70.00 from $55.00, citing a strong launch for Attruby, the company’s therapy for Mendelian diseases and cancers with clear genetic drivers. These recent developments underscore the growing confidence in BridgeBio’s therapeutic programs among analysts.
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