Aug. 11 at 11:20 AM
Piper Sandler⬆️
$BBIO's PT to
$115 from
$111, reit'd OW/said w/ Priority Review granted for both BBP-418/encaleret & no advisory committees currently planned for either, it sees a clear regulatory path heading into a pot'l multi-launch period.
$ALNY $PFE IONS AZN
Wells Fargo⬆️ BridgeBio's PT to
$102 from
$98, reiterated Overweight and said -- Shares are +8% YTD vs. XBI's +30% despite gaining more certainty around Gx Tafamidis entry and the modest re-rate on CARDIO-Transform failing which may benefit Attruby/stabilizers over Amvuttra in the 1L.
We think shares should trade up after CARDIO-Transform's detailed data are presented at ESC (Aug 28-31) as we don't think increased Attruby share has been totally factored in, while multiple near-term launches should drive BBIO's next leg of growth. PT to
$102 on updates.
