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Fly News Breaks for October 15, 2019
RETA
Oct 15, 2019 | 10:43 EDT
Jefferies analyst Maury Raycroft raised his price target for Reata Pharmaceuticals to $254 from $128 and and maintained a Buy rating, telling investors in a research note that the company's to-line data from the registrational Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich's ataxia seem "impressive" on the primary endpoint, and believes the unmet need and totality of data will be enough to get the drug approved. Raycroft says the positive FA results were "unexpected."
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