UPDATE: Stifel Starts Inventiva SA (IVA) at Buy
- S&P 500 down more than 2% as growth worries rise
- China Property Titan Evergrande (EGRNF) Collapses to 11-Year Lows, Analysts Wary of Domino Effect
- Apple (AAPL) iPhone 13 Has Strong Start with Positive Mix Skew - JP Morgan
- Oil falls on risk aversion; losses limited by U.S. supply problems
- Pfizer (PFE), BioNTech (BNTX) Announce Positive Topline Results From Pivotal Trial of COVID-19 Vaccine in Children 5 to 11 Years
Stifel analyst Derek Archila initiates coverage on Inventiva SA (NASDAQ: IVA) with a Buy rating and a price target of $18.00.
The analyst comments "We are initiating coverage on IVA shares with a Buy rating and $18 price target. Our thesis is predicated on: (1) lanifibranor's highly impressive Phase 2 results in NASH where it demonstrated a stat sig benefit on both fibrosis improvement and NASH resolution in 24 weeks; (2) its highly encouraging results on lipid and T2D biomarkers which indicate lanifibranor is having a positive effect on the metabolic disease underlying NASH; and (3) lanifibranor was generally found to be safe and tolerable, though we expect this to be a key debate among investors. While NASH development timelines are long and recent events in the NASH category (i.e. ICPT's complete response letter) have made investors more cautious, we think current levels offer long-term investors a nice entry point as IVA trades at a meaningful discount to its peers at the same stage of clinical development and some with less impressive data."
Shares of Inventiva SA closed at $10.24 yesterday.
You May Also Be Interested In
- UPDATE: Craig-Hallum Starts Inotiv Inc. (NOTV) at Buy
- Redrow PLC (RDW:LN) (RDWWF) PT Raised to GBP9 at Berenberg
- Hunting Plc. (HTG:LN) (HNTIF) PT Lowered to GBP2.20 at Berenberg
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!