Piper Jaffray analyst Tyler Van Buren raised his price target for Eidos Therapeutics (EIDX) to $75 from $55 and reiterates an Overweight rating on the shares following the initial AG10 long-term outcomes data.

The stock closed Monday up 18% to $55.02.

After speaking with a key opinion leader, the analyst believes that BridgeBio (BBIO) and Eidos's AG10 appears superior to the anticipated blockbuster Vyndaqel/tafamidis. Van Buren says he's using a "conservative" one-times multiple on a 2030 AG10 sales estimate.

He believes the ATTR cardiomyopathy market could grow to an eventual $5B-$10B opportunity as the pool of diagnosed patients expands several-fold. In addition, the new price target does not include a premium for a takeout, which is more likely following the AG10 data, Van Buren tells investors in a research note.