Fly News Breaks for September 26, 2019
RETA
Sep 26, 2019 | 06:43 EDT
Citi analyst Yigal Nochomovitz opened a 90-day "Positive Catalyst Watch" on Reata Pharmaceuticals ahead of the Phase 3 Cardinal data for bardoxolone in Alport syndrome expected in the second half of 2019. The analyst has a "high conviction" in Alport and expects the stock to be up ~50%-75% on positive data. He also expects investors to assign higher probabilities of success for bardoxolone in other rare nephropathies following the positive Alport data. He keeps a Buy rating on Reata shares.
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