Analyst Michael Nedelcovych of TD Cowen maintained a Buy rating on Takeda Pharmaceutical Company, with a price target of $18.00.
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Michael Nedelcovych has given his Buy rating due to a combination of factors related to Takeda Pharmaceutical Company’s promising developments in their narcolepsy treatment. The company’s drug, oveporexton, has shown significant efficacy in Phase III trials for narcolepsy type 1 (NT1), achieving notable improvements in excessive daytime sleepiness and cataplexy rates. The trials demonstrated that the majority of patients reached normative levels of wakefulness and experienced a near-total reduction in cataplexy, with the drug being well-tolerated overall.
Additionally, Takeda’s strong lead in the market and the solid profile of oveporexton position the company to capture a substantial market opportunity. The analyst’s model has been updated to reflect increased sales projections for oveporexton by 2030, indicating confidence in the drug’s commercial potential. The comprehensive data presented by Takeda, including the successful meeting of all primary and secondary endpoints in the trials, further supports the positive outlook for the company’s stock.
Nedelcovych covers the Healthcare sector, focusing on stocks such as Novo Nordisk, Coherus Biosciences, and Bausch Health Companies. According to TipRanks, Nedelcovych has an average return of -7.3% and a 43.48% success rate on recommended stocks.