JPMorgan has moved BridgeBio Pharma onto its U.S. Equity Analyst Focus List and nudged up the firm's December 2026 price target to $94, from $89, while keeping an Overweight recommendation in place. The brokerage’s view is grounded in physician feedback on clinical adoption patterns and a reassessment of the value in BridgeBio’s late-stage drug programs.
In a survey of 28 physicians who treat transthyretin amyloid cardiomyopathy (ATTR-CM), JPMorgan found that uptake of BridgeBio’s stabilizer drug, Attruby, is progressing among newly diagnosed patients and among those whose disease has advanced despite prior treatment with tafamidis. The bank highlighted that clinicians continue to prefer stabilizer therapies such as Attruby and tafamidis over so-called knockdown agents that reduce production of the transthyretin protein.
About one-third of the surveyed doctors indicated that Attruby offers a slight or meaningful advantage in overall clinical profile compared with tafamidis products, including Vyndaqel and Vyndamax. JPMorgan said efficacy was the principal reason cited for that perceived edge.
JPMorgan acknowledged investor concerns about potential competition from generic tafamidis. The bank views the base-case scenario as loss of exclusivity for Pfizer’s tafamidis franchise occurring in December 2028. Even with generic entry, JPMorgan projects Attruby would surrender only incremental market share among newly diagnosed patients, a dynamic the firm expects to be partly offset by rising diagnosis rates over time.
Beyond the commercial outlook for Attruby, JPMorgan described BridgeBio’s late-stage pipeline as undervalued. The bank called out several programs specifically, naming:
- infigratinib for achondroplasia
- encaleret for autosomal dominant hypocalcemia
- BBP-418 for limb-girdle muscular dystrophy
JPMorgan said that continued commercial traction for Attruby together with regulatory progress across these programs could underpin further upside in BridgeBio’s shares. The firm’s recalibration combines observed prescribing behavior, an expectation of modest competitive impact from future generics, and potential value tied to multiple late-stage assets.
Investors assessing BridgeBio will likely weigh ongoing commercial performance for Attruby against the timing of tafamidis generic competition and the upcoming regulatory milestones for the company’s pipeline candidates.