2020-11-05 13:50:07 BBIO BridgeBio
11/05/20 11/0513:50 11/05/2013:50 | BridgeBio price target raised to $60 from $50 at Piper SandlerPiper Sandler analyst Tyler Van Buren raised the firm's price target on BridgeBio to $60 from $50 and keeps an Overweight rating on the shares. The analyst notes that over the last year, the company has executed on numerous clinical and regulatory goals, and has demonstrated its ability to deliver on its vision of scale and growth. It has also filed seven INDs, initiated six clinical trials across 25 countries, added eight new programs, and presented data from the acoramidis, DEB, and TIO programs. Van Buren believes the urgency to own BridgeBio shares is increasing day-by-day as 2021 approaches, when he expects to receive important clinical updates from 4 core value-driving programs - all of which he believes could be multi-billion dollar opportunities. Finally, the recent acquisition of Eidos should allow for the most efficient development of acoramidis, the analyst contends. |
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