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Fly News Breaks for May 16, 2018
CCXI
May 16, 2018 | 07:27 EDT
Canaccord analyst Michelle Gilson initiated ChemoCentryx with a Buy rating. The analyst views data from two Phase 2 studies evaluating avacopan as supportive of the company's ongoing Phase 3 study in ANCA-associated vasculitis, boding well for the mid-2019 readout on non-inferiority. She said the pipeline provides upside opportunity as the case study of a patient demonstrating benefit two years out is encouraging. Gilson has a $17 price target on ChemoCentryx shares.
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