BofA raised the firm’s price target on BridgeBio (BBIO) to $96 from $95 and keeps a Buy rating on the shares after Pfizer (PFE) announced settlement agreements with generic drug manufacturers for ATTR treatment tafamidis, extending the U.S. intellectual property protection to June 2031. While today’s update “adds welcome clarity,” BridgeBio shares are trading lower, which the firm attributes to disappointment Vyndamax’s exclusivity was not pushed beyond 2031.
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