Fly News Breaks for August 23, 2019
Aug 23, 2019 | 09:31 EDT
BMO Capital analyst Do Kim lowered his price target on Retrophin to $33 after its Phase 3 FORT study of Fosmet failed to meet its primary and secondary estimates. The analyst is removing the Fosmet expected revenues from his model but keeps his Outperform rating on the stock with a positive view for the company's Sparsentan's opportunity in Focal segmental glomerulosclerosis. Kim adds that the FORT study was deemed to be high-risk and believes that the the sell-off in Retrophin shares is overdone.
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