Rain Oncology price target raised to $19 from $12 at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor raised the firm’s price target on Rain Oncology to $19 from $12 and keeps a Buy rating on the shares. The company last month announced that the topline data from its Phase 3 trial of milademetan versus Yondelis in liposarcoma would be delayed by a quarter, with a primary endpoint readout now slated to occur in Q2, the analyst tells investors in a research note. The firm views this favorably, saying a delay in reaching the required number of progression-free survival events could indicate that the active arm is performing well assuming the control arm performs as expected.