JPMorgan raised the firm’s price target on Cytokinetics (CYTK) to $70 from $55 and keeps an Overweight rating on the shares. The firm upped the price target after revisiting its epidemiology and diagnosis rate assumptions for obstructive and nonobstructive hypertrophic cardiomyopathy. Diagnosis trends indicate nonobstructive hypertrophic cardiomyopathy is growing at a faster rate than obstructive and could account for up to half of the total HCM market over time, the analyst tells investors in a research note.
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