Roivant Sciences price target raised to $22 from $20 at Piper Sandler

Piper Sandler raised the firm’s price target on Roivant Sciences to $22 from $20 and keeps an Overweight rating on the shares. The firm is layering in non-infectious uveitis, or NIU, into its model following a very strong efficacy signal in a Phase 2 trial in April. Piper believes NIU this is a sizeable opportunity for brepocitinib,both because of patient numbers and clear unmet need, but also because of Roivant’s orphan rheumatology strategy that enables for orphan pricing, the analyst tells investors in a research note.