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Fly News Breaks for February 3, 2020
Feb 3, 2020 | 06:56 EDT
Cantor Fitzgerald analyst Charles Duncan raised his price target for Aimmune Therapeutics to $64 from $55 after the FDA approved Palforzia for treatment of peanut allergy in patients aged four to 17. The stock in premarket trading is up 19%, or $5.80, to $36.85. As anticipated, the label's black box warning and associated REMS program is in line with other immunotherapies and allergy treatments, which should not be a moderating factor for allergist and patient/caregiver adoption, Duncan tells investors in a research note. The analyst believes Palforzia may see "robust early adoption," transforming peanut allergy treatment by informed allergists.
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