Reata Pharmaceuticals price target raised to $145 from $110 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Reata Pharmaceuticals (RETA) to $145 from $110 and keeps an Overweight rating on the shares. The adoption of Skyclarys could prove rapid and broad, mimicking other recent rare neurodegenerative/developmental launches in ALS and Rett, the analyst tells investors in a research note. Reata is likely well-positioned to execute a launch that may mirror the early success of ACADIA’s DAYBUE for Rett syndrome and Amylyx’s (AMLX) RELYVRIO for amyotrophic lateral sclerosis, the firm contends.