Sep. 12 at 1:24 PM
UBS⬆️
$BBIO's PT to
$82 from
$72, reit'd Buy-Top Pick and said,
$BBIO has Ph3 data expected for ADH1 (Autosomal Dominant Hypocalcemia Type 1) this fall.
We highlight why we think this is an underappreciated opportunity for
$BBIO & why we have conviction in success in Ph3. We reiterate
$BBIO as a top pick & see ADH1 in particular as a valuable & underappreciated pipeline asset. ADH1 is a rare, genetic form of hypoparathyroidism, affecting potentially ~12k in the US (~9k symptomatic) & we estimate
$1B+ in peak sales.
We raise our PT from
$72 to
$82 upon review of our ADH1 estimates, where we raise our peak sales from
$700M to
$1B & also add probability adjusted revenues to hypoparathyroidism (50% success to ~
$600M in peak sales potential).
