Receptos (RCPT) RADIANCE Data 'Best-Case Scenario' - BMO Capital

BMO Capital analyst Jim Birchenough reiterated an Outperform rating and $72 price target Receptos, Inc (NASDAQ: RCPT) after an abstract for the phase 2 portion of Receptos’ RADIANCE study was published online today in the Multiple Sclerosis Journal, ahead of the late-breaking oral presentation at the 2014 ACTRIMS-ECTRIMS meeting. With focus on annualized relapsed rate (ARR) reduction, RPC1063 low dose (0.5mg, or LD) and high dose (1.0mg, or HD) demonstrated a favorable trend in ARR reduction vs. placebo (LD: 31% reduction, p=0.27; HD: 53% reduction, p=0.053).

"Expert feedback at ECTRIMS suggests a competitive ARR rate with available high-efficacy orals, like GILENYA, with favorable differentiation on heart rate effects and liver enzyme elevations that could reduce screening burden," Birchenough said. "We view RADIANCE detail as a best-case scenario and one that should attract large pharma interest."

For an analyst ratings summary and ratings history on Receptos, Inc click here. For more ratings news on Receptos, Inc click here.

Shares of Receptos, Inc closed at $47.05 yesterday.

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