Roivant Sciences price target raised to $21 from $15 at Guggenheim

Guggenheim raised the firm’s price target on Roivant Sciences (ROIV) to $21 from $15 and keeps a Buy rating on the shares after the company announced positive results from the Phase 3 VALOR Study of brepocitinib in treating dermatomyositis. ) Brepo 30 mg achieved a “remarkable” mean total improvement score of 46.5, notes the analyst, who updated the firm’s model to include 100% odds of success of brepo in DM and estimates peak sales of about $2B based on about 50% peak penetration.