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.
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