Raymond James raised the firm’s price target on BridgeBio (BBIO) to $69 from $59 and keeps an Outperform rating on the shares after the company announced positive interim topline data from the ongoing Phase 3 FORTITUDE study of BBP-418 in LGMD2I/R9. Expectations for BBP-418 were muted, and these results support a bull case outlook and provide visibility on a more rapid path to market, the analyst tells investors in a research note. The firm added that moving the launch forward and de-risking approval result in its increased price target
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