BridgeBio Oncology initiated with an Overweight at Piper Sandler

Piper Sandler analyst Biren Amin initiated coverage of BridgeBio Oncology (BBOT) with an Overweight rating and $21 price target The company is developing next-generation inhibitors of RAS-signaling targeting several types of solid tumors with significant market sizes, the analyst tells investors in a research note. The firm believes early results for BO-8520 have showed signals of “best-in-class” efficacy and safety in second-line G12C-mutant non-small cell lung cancer that ultimately could support front line use with peak sales potential of $600M.