UPDATE - UBS Initiates Coverage on Ardea Biosciences (RDEA) with a Buy; Lesinurad Knocks Out Gout
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Price: $31.96 --0%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
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UPDATE - UBS initiates coverage on Ardea Biosciences (Nasdaq: RDEA) with a Buy. PT $31.
Analyst, Matthew Harrison, said, "We like lesinurad’s (Ardea’s URAT1 inhibitor for gout) add-on approach to standard of care (allopurinol) and see it as the smart way to access the large and growing gout market. We believe other recent gout launches, including Uloric (hurt by Takeda/Abbott (NYSE: ABT) split) and Krystexxa (drug specific issues), don’t signal a poor market. We see positive Phase III trials for lesinurad (removing our risk-adj adds $10/shr) and potential M&A as the key valuation drivers."
"Our near-term stance: Waiting on Phase III; MEK a potential upside driver: We believe the recent stock move has been driven by investors getting back into RDEA with the financing overhang lifted and the recent run on biotech stocks..."
To see more ratings on RDEA, Click Here
Analyst, Matthew Harrison, said, "We like lesinurad’s (Ardea’s URAT1 inhibitor for gout) add-on approach to standard of care (allopurinol) and see it as the smart way to access the large and growing gout market. We believe other recent gout launches, including Uloric (hurt by Takeda/Abbott (NYSE: ABT) split) and Krystexxa (drug specific issues), don’t signal a poor market. We see positive Phase III trials for lesinurad (removing our risk-adj adds $10/shr) and potential M&A as the key valuation drivers."
"Our near-term stance: Waiting on Phase III; MEK a potential upside driver: We believe the recent stock move has been driven by investors getting back into RDEA with the financing overhang lifted and the recent run on biotech stocks..."
To see more ratings on RDEA, Click Here
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