Evercore ISI raised the firm’s price target on BridgeBio (BBIO) to $50 from $45 and keeps an Outperform rating on the shares following Attruby’s approval and management discussions. The firm is updating its Attruby model to reflect 100% probability of success from 95%, pricing of $244,000 per year, and the firm’s increasingly constructive view on Attruby’s label, which could help future differentiation, the analyst tells investors in a research note. Evercore thinks its model is still conservative, leaving ample room for future upside.
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