BridgeBio price target raised to $70 from $60 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on BridgeBio to $70 from $60 and keeps an Overweight rating on the shares after hosting a webinar with CEO Neil Kumar. A case could easily be made that acoramidis alone should justify much higher than the current valuation, the analyst tells investors in a research note. The company is highly confident in timely acoramidis approvals to lock in committed capital and is cognizant that the portfolio is beyond what investors will ascribe value to and are reacting accordingly, the firm says.