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.

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Persons: Morgan Stanley, Maxwell Skor, angioedema, Skor, Deucrictibant, deucrictibant, HAE, —, Michael Bloom Organizations: FDA, deucrictibant