Jefferies analyst Dennis Ding raised the firm’s price target on Roivant Sciences (ROIV) to $34 from $30 and keeps a Buy rating on the shares. A key question post the Moderna (MRNA) settlement was the probability Moderna wins the ‘1498 appeal, which would impact the $1.3B payment, the analyst stated. While initially at 25% odds that Moderna wins, the firm changed its view of the probability to 75% Moderna wins, the analyst noted. The firm is formally including the LNP litigation in its Roivant model, driving its revised target.
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