Roivant Sciences placed on ‘Positive Catalyst Watch’ at JPMorgan

JPMorgan analyst Brian Cheng placed Roivant Sciences (ROIV) on “Positive Catalyst Watch” while keeping an Overweight rating on the shares with a $16 price target The firm expects brepocitinib’s pivotal readout in dermatomyositis to occur in the early part of the back half of the year. It believes brepocitinib’s mechanism of action is already de-risked based on published case studies. JPMogan thinks the drug will become the preferred JAKi in a major portion of the dermatomyositis market.