BofA raised the firm’s price target on BridgeBio (BBIO) to $45 from $42 and keeps a Buy rating on the shares after the company announced the FDA approved its stabilizer acoramidis as Attruby for ATTR-CM. The news, arriving ahead of the November 29 PDUFA deadline, was “a win on many levels, marking the company’s evolution into a commercial entity with a label that is “best-case,” the analyst tells investors. ATTR-CM’s upside is “still underappreciated currently,” the analyst added.
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Read More on BBIO:
- BridgeBio price target raised to $49 from $43 at H.C. Wainwright
- BridgeBio announces FDA approved Attruby for ATTR-CM patients
- BridgeBio Pharma trading halted, news pending
- BridgeBio Pharma call volume above normal and directionally bullish
- BridgeBio reports open-label extension data on acoramidis in ATTR-CM