CalciMedica price target raised to $20 from $14 at Oppenheimer

Oppenheimer raised the firm’s price target on CalciMedica to $20 from $14 and keeps an Outperform rating on the shares. With CalciMedica’s Phase 2 trial in severe acute kidney injury having dosed its first patient, the firm added this potential $1B-plus opportunity to its model. While this is a tough development indication, Opco likes the company’s prospects and regards last month’s positive Phase 2b results in acute pancreatitis, which featured improvements in severe renal failure, as broadening the base of supportive clinical evidence for Auxora in acute kidney injury, the analyst tells investors in a research note. The firm views the stock’s current levels as compelling.