TD Cowen raised the firm’s price target on SpringWorks Therapeutics (SWTX) to $66 from $63 and keeps a Buy rating on the shares. The firm says Gomekli’s approval comes 17 days earlier than the FDA action date “with a clearly differentiated label” relative to AstraZeneca’s (AZN) Koselugo for adult and pediatric patients with neurofibromatosis type 1 who have symptomatic plexiform neurofibromas not amenable to complete resection. This should boost the bull case for the drug, the analyst tells investors in a research note. In addition, TD believes confirmation of acquisition discussions with Merck KgaA (MKGAY) makes sense given synergy in the business heading into launch of Gomekli globally and Ogsiveo in Europe.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SWTX:
- Springworks Therapeutics Gains FDA Approval for GOMEKLI
- Buy Rating for Springworks Therapeutics Boosted by FDA Approval of GOMEKLI and Strong Market Potential
- SpringWorks Therapeutics confirms FDA approval of Gomekli
- FDA approves SpringWorks’ mirdametinib for adult and pediatric NF1 patients
- SpringWorks Therapeutics price target raised to $65 from $55 at BofA