Citi lowered the firm’s price target on BridgeBio to $45 from $46 on Friday, while keeping a Buy rating on the shares after the company announced Q2 earnings, provided an update on its pipeline, and pointed toward key recent achievements. Overall, the firm expects a positive Amvuttra update could adversely impact BridgeBio shares as TTR silencer success comes at the expense of TTR stabilizer market share. However, Citi caveats that Alnylam will present plenty of details, including combo data, that could generate debate and reinforce a role for acoramidis in the paradigm. Also, intra-class comparison is ultimately more important for acoramidis’ success than any comparison with Amvuttra.
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