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Investing.com - Truist Securities has reiterated its Buy rating and $66.00 price target on BridgeBio Pharma (NASDAQ:BBIO), citing expected positive outcomes for the company’s encaleret treatment in its Phase 3 CALIBRATE study for ADH1. The stock, currently trading at $52.65, has shown remarkable momentum with a 95% gain year-to-date, according to InvestingPro data.
The firm expects a positive outcome with encaleret and notes that based on key opinion leader feedback, any improvement over the standard of care would be viewed as clinically meaningful for ADH1 patients.
Truist acknowledges that the ADH1 commercial opportunity appears modest due to three key factors: it is an ultra-rare disease, it shows high genotypic and phenotypic variability which may reduce the total addressable market, and diagnosis remains challenging as genetic screening is not routinely performed.
The firm’s model currently reflects approximately $700 million in peak worldwide sales for the treatment, though it believes investor expectations are likely more modest than this projection.
Truist anticipates approximately 10%-15% upside for BridgeBio shares on positive Phase 3 data from the encaleret trial.
In other recent news, BridgeBio Pharma has been the focus of several analyst updates and company announcements. The company reported stronger-than-expected sales for its drug ATTRUBY, generating $71.5 million in net sales during the second quarter of 2025, surpassing H.C. Wainwright’s original estimate of $56.2 million. This performance led H.C. Wainwright to raise its price target for BridgeBio Pharma to $70.00 from $56.00, maintaining a Buy rating. Similarly, JPMorgan increased its price target to $70.00 from $55.00, citing a strong launch for the therapy.
Additionally, BridgeBio’s investigational therapy encaleret has shown promise in treating post-surgical hypoparathyroidism, achieving normalization of blood and urine calcium levels in 80% of participants within five days of treatment. These results were presented at the American Society for Bone and Mineral Research Annual Meeting 2025, with no serious adverse events reported. Jefferies and H.C. Wainwright both maintained a Buy rating on BridgeBio, with a price target of $70.00, due to the potential of the encaleret program. Jefferies expressed confidence in the ongoing Phase III CALIBRATE study, assigning it a greater than 60% probability of success.
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