BMO Capital initiated coverage of BridgeBio with a Market Perform rating and $37 price target. BridgeBio is a clinical-stage company with Acoramidis and Infigratinib being the major valuation drivers, the analyst tells investors in a research note. The firm says Acoramidis and Infigratinib have strong potential, but that success is largely priced in given the over 300% year-over-year rally in the shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BBIO:
- BridgeBio price target raised to $47 from $22 at H.C. Wainwright
- BridgeBio Pharma Secures $500M Deal and $750M Credit Facility
- BridgeBio Pharma Secures up to $1.25 Billion of Capital from Blue Owl and CPP Investments to Accelerate the Development and Launch of Genetic Medicines
- BridgeBio secures up to $1.25B of capital from Blue Owl, CPP Investments
- BridgeBio Pharma Announces Publication of Positive Results from Phase 3 ATTRibute-CM Study of Acoramidis for Patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) in the New England Journal of Medicine