BridgeBio price target raised to $45 from $44 at Scotiabank

Scotiabank raised the firm’s price target on BridgeBio (BBIO) to $45 from $44 and keeps an Outperform rating on the shares. The firm continues to like the setup for the company, with upcoming Prescription Drug User Fee Act for acoramidis on the horizon, which will give the company its first commercial product, the analyst tells investors. While many investors may have discounted acoramidis’ commercial potential in transthyretin amyloid cardiomyopathy due to competitive pressure from Alnylam’s (ALNY) vutrisiran, the firm believes the market is large enough to support commercial success for both drugs.