BridgeBio Pharma (BBIO) PT Raised to $79 at Jefferies After Reporting Positive Encaleret Ph2 Data

March 23, 2021 8:43 AM EDT
Get Alerts BBIO Hot Sheet
Price: $54.49 -6.25%

Rating Summary:
    10 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Jefferies analyst Eun Yang raised the price target on BridgeBio Pharma (NASDAQ: BBIO) to $79.00 (from $77.00) after the company reported positive Ph2 data for encaleret in a small # of patients with ADH1 (a rare endocrine condition; no approved drug), demonstrating solid proof of concept efficacy.

The analyst reiterated a Buy rating, stating "Though relatively a small market opportunity (~$500M US market size), this is the first of several major PoC data expected in next 12 months. We remain positive on BBIO for its broad, diversified approach to genetic diseases."

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