Piper Sandler Highlights an 'Under-The-Radar 2H25 Catalyst' at BridgeBio Pharma (BBIO)

Piper Sandler analyst Biren Amin reiterated an Overweight rating and $63.00 price target on BridgeBio Pharma (NASDAQ: BBIO).

The analyst commented: "Encaleret Phase 3 CALIBRATE Readout Offers an Under-The-Radar 2H '25 Catalyst; The Phase 3 topline readout of the CALIBRATE study of BBIO's calcilytic, encaleret, will be disclosed in the 2H '25 (we think Sept/Oct timeframe). Based on the positive efficacy data presented for the Phase 2b study of encaleret in moderate-to-severe patients with ADH1, we think those data are supportive of a positive outcome in CALIBRATE in 67 patients with ADH1. We estimate risk-adjusted US/EU peak sales of $389M (we have a 40% discount) for ADH1, and these estimates represents about ~9% of total product revenues. Furthermore, there are readthroughs of ADH1 to a broader chronic hypoparathyroidism indication from a biochemical and b/g med viewpoint, and as a result, there is possible derisking with CALIBRATE to the hypoparathyroidism opportunity."

For an analyst ratings summary and ratings history on BridgeBio Pharma click here. For more ratings news on BridgeBio Pharma click here.

Shares of BridgeBio Pharma closed at $38.34 yesterday.

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