BridgeBio price target raised to $61 from $60 at Oppenheimer

Oppenheimer raised the firm’s price target on BridgeBio (BBIO) to $61 from $60 and keeps an Outperform rating on the shares. The firm notes second quarter Attruby sales of $71.5M were ahead of its/consensus estimates of $71M/$65M, but missed a widely expected number, pushing shares down about 12% post-market. The selloff has set up an attractive entry point, in Oppenheimer’s opinion, as Attruby’s launch trajectory accelerated faster than the firm’s expectations. Oppenheimer would take advantage of any dip on market open as it expects Attruby’s accelerating script trajectory likely surpasses Street revenue expectations.