BridgeBio Pharma's (BBIO) transition into a rare disease "commercial powerhouse" is on track and poised to accelerate, RBC Capital Markets said in a Friday note.

The company's Attruby drug is gaining traction in first-line treatment settings, while the market for the drug continues to expand, with market volume growing 51% from a year earlier and roughly 80% of patients not yet receiving treatment, RBC analysts said.

The analysts noted that BridgeBio expects Attruby to continue growing beyond the launch of generic tafamidis in mid-2031 while reiterating a peak revenue estimate of over $4 billion.

BridgeBio has also submitted a New Drug Application for its achondroplasia treatment, with a launch expected in mid-2027. The company believes it has a real shot at gaining a dominant market share in the space, supported by strong Phase 3 results, according to the note.

For the LGMD2I/R9 drug, the company is confident in its commercial outlook with the identification of around 500 genetically confirmed patients, with more expected from the undiagnosed and misdiagnosed population.

RBC's rating on the company's stock is outperform, with a price target of $100.

Shares of BridgeBio Pharma were down nearly 3% in Friday trading.

Price: 78.92, Change: -2.29, Percent Change: -2.82