Evercore ISI analyst Josh Schimmer initiated coverage of BridgeBio with an Outperform rating and $40 price target, calling it "one of the best midcap names to own in biotech," citing two largely derisked late-stage "potential blockbusters" and what the firm views as "plenty of additional optionality" from the company’s pipeline. The firm is "conservatively" basing its valuation on encaleret for Autosomal Dominant Hypocalcemia Type 1 and infigratinib for achondroplasia, which it believes are "low risk/high reward programs." Combined Evercore expects peak sales of these two drugs of greater than $3B per year.
Published first on TheFly
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