BridgeBio price target raised to $106 from $91 at Mizuho

Mizuho raised the firm’s price target on BridgeBio (BBIO) to $106 from $91 and keeps an Outperform rating on the shares. The primary catalyst for BridgeBio this year is Pfizer’s (PFE) tafamidis litigation bench trial from April 27 to May 5, with potential to materially impact the stock, the analyst tells investors in a research note. The price target is being raised based on continued Attruby strength, updated infigratinib data in achondroplasia and hypochondroplasia, and the potential upside from a favorable litigation outcome, which could add significant value per $1B in peak sales, the firm says.