Credit Suisse Starts Ra Pharma (RARX) at Outperform
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Credit Suisse initiates coverage on Ra Pharma (NASDAQ: RARX) with a Outperform rating and a price target of $19.00.
Analyst Kennen MacKay commented, "We view RA101495 as an attractive drug candidate for patients with paroxysmal nocturnal hemoglobinuria (PNH) with potential to capture >30% market share in patients with unmet need despite Soliris treatment. We see RA101495 as competitive vs. Soliris based on ease of use (daily subcutaneous vs. bimonthly IV infusion) as well as potential to address unmet need in the ~33% of PNH patients with inadequate response to Soliris. We view potential for RA101495 to generate peak global sales of $837M. We see upside potential from RA101495 in other indications (MG, LN, aHUS, etc.) as well as other pipeline assets from RARX’s platform."
Shares of Ra Pharma closed at $13.29 yesterday.
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