BridgeBio initiated with a Buy at Jefferies

Jefferies initiated coverage of BridgeBio (BBIO) with a Buy rating and $70 price target The firm believes Attruby could become a blockbuster pill with $4B in sales in transthyretin amyloid cardiomyopathy. Doctor channel checks checks suggesting upside if Attruby’s real-world efficacy proves differentiated over Pfizer’s (PFE) tafamidis, the analyst tells investors in a research note. Jefferies likes BridgeBio’s risk/reward at current share levels.