Wall Street can sometimes wax enthusiastic over young biotechs -- perhaps too much so. That may be the case right now with Palo Alto-based BridgeBio Pharma (NASDAQ: BBIO), which analysts' consensus estimates predict will see its shares increase by 46% within the next 12 months. That's after a 300% gain already in 2023.

But without consistent profitability despite two medicines on the market, and with its stock up so much this year, it's reasonable for investors to be skeptical about this biotech's prospects to rise even more. Let's dive in and analyze its plans for the next year to see if Wall Street has it right. 

BridgeBio focuses on developing medicines for rare diseases. It has a pair of commercialized programs, and three others in phase 3 clinical trials. None of its products or candidates have an addressable patient population of more than around 500,000 people. So for its products to succeed, it's important that they reach a large portion of the addressable patient population while also securing special regulatory designations and favorable terms with insurers.

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Source Fool.com