Canaccord Genuity analyst Michelle Gilson raised the price target on Retrophin (NASDAQ: RTRX) to $41.00 (from $37.00) while maintaining a Buy rating after the company announced the FDA has approved THIOLA EC 100mg and 300mg tablets for the treatment of cystinuria.
“While we are encouraged by the step forward in the regulatory process, an update on IP around the new formulation is anticipated 2H19 or later,” Gilson commented. “A positive update on IP would help to lift the overhang on generics development further, though would not prevent competition around the original formulation. We expect comparable pricing to original formulation, which should enable access to switching.”
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