BMO Maintains Hold on BridgeBio (BBIO) Amid Intensifying Competition

On June 3, BMO Capital Markets analyst Kostas Biliouris reiterated a Hold rating on BridgeBio Pharma Inc. (NASDAQ:BBIO) with an unchanged price target of $37. His view reflects growing concerns around the near-term outlook for the company’s lead product, Attruby.

The analyst highlights that a key factor in his cautious stance is the emergence of Amvuttra. This new competitor has started gaining traction in the Transthyretin Amyloid Cardiomyopathy (ATTR-CM) space. According to Biliouris, this has begun to weigh on Attruby’s growth trajectory, with recent prescription trends pointing to a slowdown. Weekly script volumes are down, and the script fill rate has started to normalize, both signs that market momentum is moderating.

While Attruby launched strongly, helped by an expanding patient population and solid commercial execution, the sustainability of that performance is now in question. The analyst expects market share to decline further in the second half of the year as competitive dynamics intensify.

Beyond Attruby, the analyst notes that visibility on the commercial prospects of key pipeline assets, such as Acoramidis and Infigratinib, remains limited at this stage. This adds another layer of uncertainty to the long-term growth story.

Taken together, the combination of slowing product momentum and the need for more clarity on the pipeline justifies Biliouris’ Hold rating.

BridgeBio Pharma Inc. is a biopharmaceutical company that discovers, develops, and delivers transformative medicines to treat patients with genetic diseases. Its pipeline of development programs ranges from early science to advanced clinical trials.

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