Stifel downgraded Nivalis Therapeutics (NASDAQ:NVLS) to “ hold” from “buy” and slashed its price target to $3.25 from $16 after the company released Phase 2 data for cavosonstat in the treatment of patients with homozygous F508del CF that were stably on Orkambi. The stock closed at $6.25 on Monday.Read More
Leerink Partners has initiated coverage of Proteostasis Therapeutics (NASDAQ: PTI) with an “outperform” rating and $13 price target in 12 months. The stock closed at $5.56 on Friday.
Proteostasis’ lead candidate, PTI-428, is designed to work as an “amplifier,” which can work additively with Orkambi (corrector/potentiator combination) to increase functioning cystic fibrosis transmembrane conductance regulator (CFTR) on the cell membrane.Read More