Dianthus initiated with an Outperform at Wolfe Research

Wolfe Research analyst Andy Chen initiated coverage of Dianthus (DNTH) with an Outperform rating and $98 price target. The firm notes that the company’s Claseprubart is heading toward three diseases – Generalised Myasthenia Gravis, or gMG, Chronic Inflammatory Demyelinating Polyneuropathy, and Multifocal Motor Neuropathy, or MMN – with a mechanism that likely is efficacious in all three given mechanistic rationale of complement inhibition in all three, encouraging Phase 2 data in MG, and readthrough from Sanofi (SNY) riliprubart data, the analyst tells investors in a research note. The autoinjectable option is another added advantage in both gMG and MMN, the firm added.