JPMorgan analyst Anupam Rama raised the firm’s price target on BridgeBio (BBIO) to $70 from $55 and keeps an Overweight rating on the shares. The firm also added BridgeBio to its “Positive Catalyst Watch List” ahead of pipeline readouts over the next six months. JPMorgan has a positive outlook on the company’s near-term readouts citing “prior de-risking data.” If the company’s three readouts are positive, the firm sees the stock reaching $80-$100. Conversely, if all three miss, the base value of Attruby alone is in the mid-$30s to low-$40s per share range, which creates a favorable risk/reward, JPMorgan contends.
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