Analyst Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Roivant Sciences and keeping the price target at $18.00.
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Douglas Tsao’s rating is based on the promising potential of Roivant Sciences’ brepocitinib, which is undergoing a Phase 3 trial for treating dermatomyositis. The VALOR study’s unique design, including a longer treatment period and steroid tapering, sets it apart from previous studies, and success in demonstrating a statistically significant improvement over placebo could position brepocitinib as the first oral targeted therapy for this condition.
Furthermore, brepocitinib’s dual TYK2/JAK1 inhibition offers a targeted approach that may surpass the efficacy of existing treatments like IVIg, which is the only approved therapy for dermatomyositis. Its convenient oral dosing regimen could make it a preferred option before biologics and cell therapies. Additionally, Roivant Sciences is advancing other promising therapies, such as batoclimab for Graves’ disease and thyroid eye disease, which further supports the Buy rating due to their potential to create significant value.