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Fly News Breaks for November 20, 2019
RETA
Nov 20, 2019 | 07:03 EDT
Cantor Fitzgerald analyst Charles Duncan raised his price target for Reata Pharmaceuticals to $314 from $250 and reiterates an Overweight rating on the shares. Monday's equity offering is sufficient to fund the commercial launches of both bardoxolone and omaveloxolone, Duncan tells investors in a research note. Based on the "favorable" topline data, the equity raise, and recent key opinion leader due diligence, the analyst sees the probability of success "in multiple forms" of chronic kidney disease as "clearly increased."
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