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Analyst Maxwell Skor upgraded the biotech stock to overweight from equal weight and raised his price target by $24 to $34. "We see a viable market opportunity with ondemand and short-term prophylactic treatment." The market is split between on-demand treatment and a growing prophylactic segment, according to the note. Skor thinks deucrictibant has a superior safety profile across early clinical trials to the currently dominant therapeutic for the disorder, Orladeyo. He noted, however, that the FDA's clinical hold on prophylactic treatment remains a "key overhang" and that management is expected to submit nonclinical data by 2023.
Persons: Morgan Stanley, Maxwell Skor, angioedema, Skor, Deucrictibant, deucrictibant, HAE, , Michael Bloom Organizations: FDA, deucrictibant
[1/2] Choices at the gas pump including ethanol or no ethanol gas are seen in Des Moines, Iowa, U.S., January 29, 2020. The U.S. Environmental Protection Agency plans to finalize biofuel blending volumes at 20.94 billion gallons in 2023, 21.54 billion gallons in 2024 and 22.33 billion gallons in 2025, the sources said. That compares with the initial proposal announced in December of 20.82 billion in 2023, 21.87 billion in 2024, and 22.68 billion in 2025. But the finalized volumes include just 15 billion gallons of conventional biofuels like corn-based ethanol in all three years, plus a 250 million-gallon supplemental amount for 2023, the sources said. Ethanol producers and corn farmers like the mandates because they provide a market for their products, while the oil industry finds the requirements too pricey.
Persons: Brian Snyder, Biden, Emily Skor, Stephanie Kelly, Jarrett Renshaw, Matthew Lewis Organizations: REUTERS, Reuters, The, Environmental Protection Agency, Congress, Growth Energy, EPA, U.S . Renewable, EV, Thomson Locations: Des Moines , Iowa, U.S, The U.S, New York, Philadelphia
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