Dianthus price target raised to $80 from $55 at Wedbush

Wedbush raised the firm’s price target on Dianthus (DNTH) to $80 from $55 and keeps an Outperform rating on the shares. Heading into the CAPTIVATE interim readout, the firm anticipated advancement to Part B as a base case. While a specific response rate was not disclosed due to the trial’s continuation, the elimination of the high-dose arm in Part B and the increased assumptions around response rates for the remainder of Part A are all encouraging signals. Wedbush sees potential read through to the MMN opportunity as well and are now incorporating credit in our estimates.