BridgeBio price target raised to $82 from $72 at UBS

UBS raised the firm’s price target on BridgeBio (BBIO) to $82 from $72 and keeps a Buy rating on the shares. The company will report Phase 3 data for autosomal dominant hypocalcemia type this fall, which is an “underappreciated opportunity” for BridgeBio, the analyst tells investors in a research note. UBS has conviction in the Phase 3 success and upped its peak sales estimate to $1B from $700M. The firm reiterates BridgeBio as a top pick and see ADH1 as a “valuable and underappreciated” pipeline asset for the company.