BridgeBio price target raised to $100 from $94 at Bernstein

Bernstein analyst William Pickering raised the firm’s price target on BridgeBio (BBIO) to $100 from $94 and keeps an Outperform rating on the shares to reflect positive infigratinib data. The firm thinks there is much more of the skeletal dysplasia story still to play out, and the clean safety in particular gives Bernstein greater confidence in BridgeBio becoming the category leader. In terms of what’s next for the stock, the firm believes there is still upside from positive revisions to both infigratinib and encaleret as focus shifts toward indication expansion in hypochondroplasia and chronic hypoparathyroidism, respectively.