5 Best Upside Stocks to Buy According to Hedge Funds

2. BridgeBio Pharma Inc. (NASDAQ:BBIO)

Average Upside Potential: 44.83%

Number of Hedge Fund Holders: 63

BridgeBio Pharma Inc. (NASDAQ:BBIO) is one of the best upside stocks to buy according to hedge funds. On May 27, BridgeBio Pharma announced that the FDA accepted its NDA for BBP-418, an oral therapy for limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9), granting it Priority Review. With a target action date of November 27, the therapy could become the first approved treatment for any form of LGMD. The FDA is not currently planning an advisory committee meeting to discuss the application.

This milestone follows the Phase 3 FORTIFY trial, where BBP-418 showed strong efficacy across all pre-specified endpoints. While patients on the placebo declined in line with natural disease progression, those treated with BBP-418 showed consistent improvements, highlighting the therapy’s potential to stabilize or enhance muscle, ambulatory, and cardiopulmonary function in a patient population with significant unmet needs.

Already holding Orphan Drug, Fast Track, and Rare Pediatric Disease designations, BBP-418 is positioned to address a critical gap in care for approximately 7,000 individuals in the US and Europe. BridgeBio Pharma Inc. (NASDAQ:BBIO) is currently coordinating with European regulators for an expedited approval path and plans to expand clinical studies for younger pediatric populations and other related dystroglycanopathies in the near future.

BridgeBio Pharma Inc. (NASDAQ:BBIO) identifies and promotes novel medications to treat Mendelian diseases. Its development pipeline contains product candidates at various stages of development, from early discovery to late-stage development.