Apr. 9 at 8:32 PM
RBC sees 35% upside ahead for BridgeBio Pharma
RBC is bullish on BridgeBio Pharma
, initiating coverage on the stock with an outperform rating on Wednesday.
While the stock has tripled since the approval of its heart disease drug Attruby in November 2022, the firm believes it has more room to run. Its
$100 price target suggests about 35% upside from Wednesday’s close.
“Attruby is off to a fantastic start (annualizing ~
$600M just a year post approval, and we are seeing a recent ‘second wave’ of acceleration in scripts) and our proprietary survey of 40 cardiologists clearly suggests that we are still in the early innings of uptake,” analyst Luca Issi said in a note to clients.
$BBIO