At the June 26 reconstitution of the Russell US indexes, California biopharmaceutical firm BridgeBio is expected to graduate to the Russell 1000.
Analysts at Mizuho have emphasized that the move would be long-term positive for BridgeBio’s stock price, and Nasdaq studies show that index inclusion almost always brings new long-term investors into a company’s shareholder base.
The annual Russell Index reconstitution is a once-a-year process in which FTSE Russell reviews the US equity market and reshuffles companies across its indexes, based largely on market capitalisation.
Historically, the Russell 2000 index has served as a launchpad for future large-cap leaders, with high-profile stocks such as Nvidia, Amazon, Costco, Netflix, Adobe, Etsy and Intuit joining the Russell 2000 before later graduating to the Russell 1000.
What would graduating to the Russell 1000 mean for BridgeBio?
Overall, the expected graduation to the Russell 1000 reflects BridgeBio’s sustained growth since its founding in 2015 and suggests the market is increasingly recognizing the scale and maturity of its pipeline and commercial outlook.
BridgeBio currently stands out in the R2000 index with a market cap of over $13 billion, roughly 12 times the index median, making it one of the largest companies in the index.
The expected graduation to the R1000 is a long-term positive for the stock, as it expands BridgeBio’s investor base. BridgeBio‘s expected move to the Russell 1000 could create some short-term selling pressure at reconstitution. This is because some funds explicitly follow the R2000, and when companies leave the index, they are obliged to sell.
Analysts at Mizuho explained that this would only cause short-term volatility and emphasized that it is a technical dynamic rather than a reflection of BridgeBio’s fundamentals. The analysts highlighted that any volatility would be a good entry point for investors.
Overall, BridgeBio has strong fundamentals, and its expected graduation to the Russell 1000 on June 26 reflects its continued growth, reinforcing Mizuho’s Outperform rating on the stock.
What is BridgeBio?
BridgeBio is a commercial-stage biopharmaceutical company founded in 2015 and headquartered in Palo Alto, California. It was co-founded in 2015 by Neil Kumar, Ph.D., Frank McCormick, Ph.D., and Andrew Lo, Ph.D., among others, with the aim of delivering transformative medicines for patients with genetic diseases.
BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.
BridgeBio has won three FDA approvals to date, though Attruby is the only one it still markets. Nulibry (Fosdenopterin) received FDA approval in February 2021 and has been shown to improve survival in children with molybdenum cofactor deficiency (MoCD). The treatment has also been shown to reduce levels of SSC, one of the compounds that builds up and is thought to cause seizures and severe brain abnormalities in patients with MoCD Type A. BridgeBio sold Nulibry to Sentynl Therapeutics in March 2022.
BridgeBio’s approved drug, Attruby (Acoramidis), is used to treat adults with cardiomyopathy caused by wild-type or variant transthyretin-mediated amyloidosis (ATTR-CM). In a 30-month clinical study, people treated with Attruby did significantly better than those who did not receive it, reducing the risk of death and hospitalization.
In May this year, BridgeBio also presented late-stage data which showed patients taking Attruby had a 34% lower rate of cardiovascular hospitalizations than those on tafamidis, the ATTR-CM treatment manufactured by Pfizer and sold under the name Vyndamax. These figures come from an indirect, matched comparison. According to the study, all-cause mortality risk was 28% lower, although that result was not statistically significant.
Attruby generated $362.4 million in its first full year on the market. Jefferies analysts forecast peak annual sales for the drug of more than $3 billion. The ATTR-CM treatment market is projected to reach $16.5 billion by 2030.
Acoramidis is also sold in Germany by Bayer and marketed as Beyonttra. Germany was the first European country where BridgeBio’s ATTR-CM treatment was launched. Speaking at the 2026 Leerink Partners Global Healthcare Conference, Chinmay Shukla, BridgeBio’s SVP of Strategic Finance, said Bayer has reported “north of 50% treatment-naive share” there, which he contrasted with the US environment, citing Germany’s single-payer system and fewer access hurdles.
Shukla added that the next European launch of Acoramidis is expected to be Denmark, followed by other markets including Spain, Italy, and France. He noted it has been disclosed that Bayer “won the bid in Denmark.”
BridgeBio’s current pipeline is extensive and spans investigational drugs which aim to treat the following conditions: Canavan disease, Hypochondroplasia, achondroplasia, Chronic Hypoparathyroidism-NIH IIR, Autosomal Dominant Hypocalcemia Type 1, Limb-Girdle Muscular Dystrophy Type 2I/R9, and Early-Stage Variant Transthyretin Amyloidosis. Three of these programs have reported positive Phase 3 results and are now at or near FDA submission: BridgeBio has filed NDAs for BBP-418 in limb-girdle muscular dystrophy type 2I/R9 (which was granted Priority Review) and encaleret in ADH1, and plans to submit oral infigratinib in achondroplasia in the second half of 2026.
The company currently has a market cap of over $13 billion, and reported $502.1 million in full year revenue in 2025.
