After speaking with a dermatologist who practices at a major academic hospital about the lack of effective treatments for hidradenitis suppurativa, Piper Jaffray analyst Edward Tenthoff believes ChemoCentryx has an underappreciated blockbuster opportunity in oral avocapan. The doctor emphasized drugs of minimum benefit in hidradenitis suppurativa could be used immediately, Tenthoff tells investors in a research note. He thinks believe his global sales forecast of $597M for oral avocapan in 2025 could prove conservative. The analyst reiterates an Overweight rating on ChemoCentryx with a $20 price target.