Aug. 11 at 2:08 PM
Cantor reiterated
$BBIO Overweight-
$110 and moved the Stock Back to its #1 Pick.
$ALNY $PFE IONS AZN
Cantor said -- We see limited competitive risk for BBIO near term, as China's strengths lie in genomic sequencing and target discovery, with relatively limited focus on rare disease.
BBIO has an effort to identify potential in-licensing candidates in China and could form commercial partnerships there as well.
We're updating our model for 2Q earnings, adding quarterly estimates for 2027, extending our model to 2033. We are also lowering our terminal growth from 4% to 3% given the more sizable denominator in that year. Our PT remains
$110 (which we expect will prove conservative), and BBIO is back as our #1 pick.
