BridgeBio Rises 13% on $94 Price Target and Positive Phase 3 BBP-418 Data
BridgeBio shares jumped over 13% following JPMorgan’s upgrade of its price target to $94 (26% upside) and maintenance of an overweight rating. The rally coincided with Phase 3 data showing BBP-418 delivered a 2.6-point NSAD improvement, with FDA endorsing a traditional approval path and H1 NDA submission.
1. Stock Price Target Upgrades Drive Rally
BridgeBio Pharma shares jumped 13.22% to $74.32 after JPMorgan raised its price target to $94 and maintained an overweight rating, while William Blair initiated coverage with an Outperform rating and a $93.03 target.
2. Positive Phase 3 Data for BBP-418
BridgeBio presented Phase 3 results for BBP-418 in patients with limb-girdle muscular dystrophy type 2I/R9, showing a statistically significant 2.6-point improvement in North Star for Dysferlinopathy versus placebo.
3. FDA Endorses Traditional Approval Path
The FDA recommended pursuing traditional approval for BBP-418 rather than accelerated pathways, reflecting confidence in the trial’s robustness and the clinical meaningfulness of the NSAD improvements.
4. Regulatory Timeline and Launch Plans
BridgeBio targets submission of a new drug application for BBP-418 in the first half of 2026, with plans for a commercial launch late 2026 or early 2027.