Mizuho says there is a lot of investor discussion of BridgeBio getting potentially taken out after its cancellation from a Guggenheim conference next week. The analyst, however, does not believe BridgeBio will sell itself. What is more likely than a sale is a royalty deal, the analyst tells investors in a research note. The firm believes a royalty deal will allow the company to "strategically maintain upside" on acoramidis while extending its cash runway just in case the acoramidis Phase 3 trial fails. Syed keeps a Buy rating on BridgeBio with a $23 price target.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BBIO:
- BridgeBio likely worth $3B-$4B in takeover, says BofA
- BridgeBio Pharma call volume above normal and directionally bullish
- Here’s Why Investors Are Excited About BridgeBio (NASDAQ:BBIO) Stock
- BridgeBio attracting bigger companies’ takeover interest, Bloomberg says
- BridgeBio announces first patient dosed in Phase 1 trial of BBP-398 with OPDIVO