BridgeBio price target raised to $100 from $85 at Jefferies

Jefferies analyst Andrew Tsai raised the firm’s price target on BridgeBio (BBIO) to $100 from $85 and keeps a Buy rating on the shares. The success of phase III infigratinib data in achondroplasia has added another major growth driver, the analyst tells investors in a research note. The firm added that, net-net, the commercial prospects seem quite favorable, saying its new price target is based on 90% probably of survival and $1B+ in peak sales, which could still be conservative.