Jefferies Starts Ra Pharma (RARX) at Buy
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Jefferies initiates coverage on Ra Pharma (NASDAQ: RARX) with a Buy rating and a price target of $25.00.
Analyst Eun Yang commented, "Utilizing its peptide chemistry platform, RARX focus on complement-mediated diseases. Given well-validated C5 target & encouraging Ph1 data, we view lead candidate RA101495 as somewhat de-risked. Key catalyst is Ph2 data for RA101495 in PNH pts in 2H17; if positive (similar to Soliris), we view >100% potential upside as likely from current levels. RA101495 could potentially be a convenient, SC alternative to ALXN's Soliris (~$2.9B in 2016E sales)."
Shares of Ra Pharma closed at $13.29 yesterday.
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