BofA lowered the firm’s price target on BridgeBio (BBIO) to $42 from $50 and keeps a Buy rating on the shares after competitor Alnylam (ALNY) announced positive data from HELIOS-B, its pivotal trial of vutrisiran in ATTR-cardiomyopathy, or ATTR-CM. The results approaching a “best-case” scenario are “a win for BridgeBio’s rival” and shares were pressured, likely given concerns over the opportunity. While the firm recognizes the competitive threat and worries silencers might take some first-line share, it “wouldn’t be quick to dismiss acoramidis” would be buyers on the weakness, the analyst tells investors.
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