Ra Pharma (RARX) PT Raised to $34 at BMO Capital

BMO Capital raised its price target on Ra Pharma (NASDAQ: RARX) to $34.00 (from $31.00) while maintaining a Outperform rating after in the ongoing Phase 2 PNH trial, RA101495 demonstrated clinical benefit in all three cohorts.

Analyst M. Ian Somaiya commented, "Benefit was cleanest in the Soliris-naïve cohort (LDH decreased to below 500 U/L from ~1,200 U/L at baseline, p = 0.002) and transfusion-independent Soliris-switch patients, which collectively represent majority of the addressable market. More importantly, the large dataset (27 patients) provides reliable validation that RA101495 is a highly active subcutaneous C5 inhibitor which adds meaningful upside in future indications including lupus nephritis and aHUS (both upside to our model)."

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