Idorsia downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Idorsia to Neutral from Buy with a price target of CHF 2, down from CHF 12. The analyst says aprocitentan may prove challenging to self-commercialize. While aprocitentan constitutes an addition to Idorsia’s late-stage portfolio of drugs that the company could self-commercialize, the return of the rights may signal Janssen’s lack of confidence in the competitiveness of the drug, despite its success in pivotal studies, and could make it challenging to sell, the analyst tells investors in a research note.