BridgeBio Pharma (BBIO) PT Raised to $45 at JPMorgan

JPMorgan analyst Anupam Rama raised the price target on BridgeBio Pharma (NASDAQ: BBIO) to $45.00 (from $35.00) while maintaining a Overweight rating.

The analyst comments "BridgeBio Pharma is an emerging clinical biotech company focused on developing therapies for Mendelian diseases and cancers with clear genetic drivers. In a very short period of time, Bridge has amassed a vast pipeline of diverse programs that are supported by a novel corporate structure and business model optimized for efficient resource allocation, decision making, and execution. Importantly, there are many value-inflecting catalysts expected to play out over the next ~12 months. Our Overweight rating on BBIO shares is based on current levels not reflecting the probability-adjusted potential of the company’s near-term value drivers."

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