Bloomberg reported last week that BridgeBio has attracted interest from pharmaceutical companies and this week the company canceled from an upcoming investor conference, UBS analyst Eliana Merle the analyst tells investors in a research note. The firm estimates fair value of BridgeBio’s pipeline would be $36 to $40 per share, including $7 per share of net debt. With zero credit for acoramidis for symptomatic transthyretin amyloid cardiomyopathy, the company would be worth $21 to $23 per share, or $3.3B-$3.7B. UBS continues to think BridgeBio’s "diversified pipeline" is underappreciated, but that investor focus broadly remains cautious given its high debt balance and ATTR setback in December 2021. It sees a favorable risk/reward into the ATTR Phase 3 data in July "given investor caution." The firm keeps a Buy rating on the stock with a $30 price target.
Published first on TheFly
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