Piper Sandler Reaffirms Overweight Rating on BridgeBio Ahead of Phase 3 CALIBRATE Results

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is one of billionaire Stan Druckenmiller’s top stock picks with huge upside potential. With a price target of $63, Piper Sandler analysts reaffirmed their Overweight rating for BridgeBio Pharma, Inc. (NASDAQ:BBIO) on June 6. The analysts drew attention to the upcoming Phase 3 topline readout of the CALIBRATE study for BridgeBio Pharma’s calcilytic medication encaleret. The study’s findings are expected to be made public in the second half of 2025.

According to the analysts, the CALIBRATE study, which includes 67 individuals with autosomal dominant hypocalcemia type 1 (ADH1), is expected to have a favorable outcome given the positive efficacy findings from the Phase 2b study of encaleret in patients with ADH1. With a 40% discount, they calculated that risk-adjusted peak sales for ADH1 in the American and EU markets would amount to $389 million. This figure is equivalent to about 9% of BridgeBio Pharma’s overall product revenue.

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biopharmaceutical company that was founded to discover, develop, evaluate, and market cutting-edge medication to cure genetic illnesses.

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