BofA lowered the firm’s price target on BridgeBio (BBIO) to $42 from $50 and keeps a Buy rating on the shares after competitor Alnylam (ALNY) announced positive data from HELIOS-B, its pivotal trial of vutrisiran in ATTR-cardiomyopathy, or ATTR-CM. The results approaching a “best-case” scenario are “a win for BridgeBio’s rival” and shares were pressured, likely given concerns over the opportunity. While the firm recognizes the competitive threat and worries silencers might take some first-line share, it “wouldn’t be quick to dismiss acoramidis” would be buyers on the weakness, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBIO:
- 3 Best Stocks to Buy Now, 6/25/2024, According to Top Analysts
- BridgeBio gets FDA rare pediatric disease designation for BBP-418 for MD
- BridgeBio Pharma Surpasses Interim Analysis Enrollment Target and Receives U.S. FDA Rare Pediatric Disease Designation for BBP-418, a Potential Treatment for Limb-girdle Muscular Dystrophy Type 2I/R9 (LGMD2I/R9)
- BridgeBio Pharma Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
- BridgeBio reports inducement grants under Nasdaq listing rule
Questions or Comments about the article? Write to editor@tipranks.com