Aerovate Therapeutics price target raised to $50 from $27 at BTIG

BTIG analyst Julian Harrison raised the firm’s price target on Aerovate Therapeutics (AVTE) to $50 from $27 and keeps a Buy rating on the shares. Merck’s (MRK) sotatercept has been approved by the FDA and is expected to be an important add-on to vasodilators in pulmonary arterial hypertension given its novel, disease modifying activity, though its label confirms the firm’s expectation that sotatercept will likely not be the most straightforward drug to prescribe, leaving opportunities for other disease modifying therapies in Pulmonary Arterial Hypertension, or PAH, to differentiate, the analyst tells investors in a research note.