BridgeBio Pharma (BBIO) is transitioning from a single-asset transthyretin story into a diversified rare disease company, with growth poised to accelerate beyond its ATTR franchise, RBC Capital said in a Wednesday note.

RBC said Attruby is gaining early traction based on physician feedback and expects peak sales of around $3 billion. It added that while legal disputes over tafamidis remain an overhang, near-term generic risk to Vyndamax appears limited, and any longer-term impact should be manageable.

Beyond TTR, RBC sees BridgeBio's broader pipeline as a key value driver, projecting more than $2 billion in additional peak revenue from assets including infigratinib, encaleret, and BBP-418. The firm believes the portfolio is underappreciated and could help lift total revenue to around $5 billion with strong margins.

RBC also highlighted sustainability factors such as clinical trial practices, data transparency, and management diversity, noting the company is improving its governance and aligning with broader biotech industry standards.

RBC initiated coverage with an outperform rating with a price target of $100.

Shares of BridgeBio Pharma were down 0.9% in Thursday trading.

Price: 73.46, Change: -0.68, Percent Change: -0.92