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Fly News Breaks for February 18, 2020
Feb 18, 2020 | 15:30 EDT
Jefferies analyst Maury Raycroft reiterated a Buy rating on Reata Pharmaceuticals and raised his price target on the shares to $333 from $308 ahead of the company's fourth quarter earnings update. Raycroft said he is not expecting major updates in the company's earnings release, and that he anticipates incremental updates related to bard and omav regulatory filings, a potential APDKD status update, and likely "some tidbits" on the upcoming phase 3 CTD-PAH readout. The analyst added that he made model changes, which primarily included one-time Q4 expense, updated bard pricing, increased expenses, and rolled model out a year.
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