Reata Pharmaceuticals price target raised to $122 from $104 at Ladenburg

Ladenburg raised the firm’s price target on Reata Pharmaceuticals to $122 from $104 and keeps a Buy rating on the shares. The analyst expects “strong” initial demand for Skyclarys with the commercial launch underway. The firm is “impressed by the clean label,” which it notes has no Risk Evaluation and Mitigation Strategy. There are about 6,000 Friedreich’s ataxia patients in the U.S. with an addressable market at launch of 4,500 patients, the analyst tells investors in a research note.