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Fly News Breaks for October 16, 2019
RETA
Oct 16, 2019 | 07:11 EDT
Stifel analyst Adam Walsh increased his price target on Reata Pharmaceuticals to $210 from $135 after omaveloxolone in patients with Friedreich's ataxia hit the "FDA-blessed" primary endpoint of placebo-corrected mFARS in the MOXIe trial. He, and his key-opinion leader consultant, think omaveloxolone first-pass approval is likely based on the trial results reported, especially given the "benign" safety and tolerability, Walsh tells investors. Beyond omaveloxolone, he remains bullish ahead of Alport data due out this quarter, Walsh added.
News For RETA From the Last 2 Days
RETA
Feb 20, 2020 | 10:27 EST
Stifel analyst Adam Walsh raised his price target for Reata Pharmaceuticals to $362 from $305, while keeping a Buy rating on the shares. The analyst notes that the company reported an uneventful Q4 with no updates on timing of NDA filings for BARD/OMAV in Alport/FA, enrollment in pivotal P3 ADPKD FALCON trial, launch timing for additional BARD pivotal trials, and launch timing for additional OMAV trials in new neurological indications. Near-term, Street seems "overly cautious" on upcoming pivotal BARD CATALYST results in CTD-PAH due mid-2020, Walsh adds. The analyst thinks the trial is well-powered and calculate limited upside/downside. That said, he believes Reata take-out speculation is likely to wax and wane throughout fiscal year 2020, supporting shares at current or higher levels.
RETA
Feb 20, 2020 | 06:44 EST
Citi analyst Yigal Nochomovitz says Reata Pharmaceuticals remains his top pick for 2020 with a Buy rating and $328 price target. The analyst expects approvals for both bardoxolone methyl in Alport syndrome and omaveloxolone in Friedreich's Ataxia. New Drug Application submissions for both are expected in 2020, Nochomovitz tells investors in a research note.
RETA
Feb 19, 2020 | 19:10 EST
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