BridgeBio price target raised to $45 from $35 at JPMorgan

JPMorgan analyst Anupam Rama raised the firm’s price target on BridgeBio to $45 from $35 and keeps an Overweight rating on the shares. The firm’s current base case is that stabilizers maintain majority share of the growing amyloidosis market should trends look similar between monotherapy Amvuttra versus placebo plus tafamidis and potential growth in share if placebo plus tafamidis looks better. In a scenario where monotherapy Amvuttra trends look directionally better than placebo plus tafamidis, the firm still sees stabilizers keeping meaningful share, given oral dosing and market entrenchment. JPMorgan’s Overweight rating on BridgeBio is based on acoramidis having best-in-class stabilizer potential and an “underappreciated” late-stage pipeline.