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