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Fly News Breaks for November 22, 2017
CYTK
Nov 22, 2017 | 07:43 EDT
After Cytokinetics' tirasemtiv did not meet the primary endpoint or any secondary endpoints in a Phase 3 ALS study, Morgan Stanley analyst Matthew Harrison removed the drug from his model and lowered his price target on the stock to $17 from $25. However, he reiterates an Overweight rating on Cytokinetics shares, stating that investors knew VITALITY-ALS was the riskier of the company's upcoming readouts and he continue to value the omecamtiv mecarbil program for heart failure.
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