Retrophin (RTRX) PT Raised to $40 at BMO Capital
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BMO Capital analyst Do Kim reiterated an Outperform rating and boosted his price target on Retrophin (NASDAQ: RTRX) to $40.00 (from $28.00) and increase the probability of success for Sparsentan to 45% from 25%, following positive Phase II DUET data.
Kim commented, "While we model an accelerated approval for Sparsentan, we recognize the increased risk regarding an early filing, given little visibility on the likely commercial dose. Our 45% risk adjustment reflects the potential need for a confirmatory Phase III trial prior to regulatory filing."
Shares of Retrophin closed at $16.32 yesterday.
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