Inventiva initiated with a Buy at Canaccord

Canaccord initiated coverage of Inventiva (IVA) with a Buy rating and $12 price target. Inventiva’s lanifibranor is in Phase 3 study for nonalcoholic steatohepatitis, or NASH, and the pivotal trial, NATiV3, is expected to achieve the last patient with first dose in Q4. Inventiva’s lanifibranor is one of only four drugs currently in Phase 3 development for NASH and assuming Madrigal Pharmaceuticals’ (MDGL) resmetirom receives FDA approval in March 2024, the firm believes lanifibranor has the potential to be the second FDA approved therapeutic for NASH, the analyst tells investors.