As previously reported, Guggenheim initiated coverage of Roivant Sciences with a Buy rating and $17 price target. The firm’s review suggests VTAMA is “a breakthrough, commercial-stage topical cream with a lot of room to grow” and the firm believes approval in atopic dermatitis “could be a major inflection point on the course to generate” greater than $2.5B in peak sales. In addition, Roivant’s RVT-3101 could be first to market, allowing it to capture “a big portion” of a greater than $9B market share for the TL1A class in inflammatory bowel disease, or IBD, the analyst tells investors.
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