BofA analyst Chi Fong raised the firm’s price target on Roivant Sciences to $12.50 from $12 and keeps a Neutral rating on the shares after the company disclosed a new Phase 2-ready program, mosliciguat, for interstitial lung disease, or PH-ILD. The firm thinks the Phase 1 data support further evaluation of the drug’s efficacy and safety in Phase 2, but wants to see positive data before driving higher conviction for the asset given the early stage of the program, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ROIV:
- 3 Best Stocks to Buy Now, 9/11/2024, According to Top Analysts
- Roivant Sciences Unveils Promising Pulmonary Hypertension Therapy
- Roivant Sciences’ mosliciguat shows efficacy in pulmonary hypertension trial
- Pulmovant presents positive proof-of-concept data from the Phase 1b ATMOS study of Mosliciguat in Pulmonary Hypertension at European Respiratory Society Congress
- Roivant Unveils New Pipeline Program Mosliciguat, A Potential First-In-Class and Best-In-Category Inhaled Once-Daily Soluble Guanylate Cyclase (sGC) Activator