Piper Sandler raised the firm’s price target on BridgeBio (BBIO) to $68 from $63 and keeps an Overweight rating on the shares. On Friday, the company hosted a LGMD2I/R9 investor event ahead of the anticipated topline interim data for the Phase 3 FORTIFY trial of BBP-418. Since the patients required for the interim were reached last June, the firm expects data in the next 4-6 weeks. Piper believes these data should provide sufficient read through on biomarker and relevant clinical outcome improvements. Given these data and the encaleret Phase 3 data also expected in the second half of the year, BridgeBio could have two additional launches by year-end 2026/early 2027.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBIO:
- Cautious Hold Rating for BridgeBio Pharma Amid Attruby Sales Focus and BBP-418 Regulatory Prospects
- BridgeBio Pharma’s Promising Prospects: Buy Rating Driven by BBP-418’s Potential in Rare Neuromuscular Disorder
- BridgeBio Pharma’s Growth Potential Highlighted by Positive Outlook on BBP-418 and FDA Support
- BridgeBio initiated with a Buy at Jefferies
- BridgeBio Pharma’s BBP-418: A Promising Investment in Groundbreaking LGMD2I/R9 Therapy