UPDATE: Credit Suisse Initiates Coverage on Vital Therapies with Outperform Rating, $16 PT on Promising Early Data

In a report published Monday, Credit Suisse analyst Bruce Nudell initiated coverage on Vital Therapies VTL with an Outperform rating and $16.00 price target. In the report, Credit Suisse noted, “VTL is developing a cell-based therapy for the treatment of alcohol-induced acute liver de-compensation (AILD). VTL's extracorporeal liver assist device (ELAD) uses immortalized human liver cancer cells housed in a machine located outside the body to take over a portion of the liver's workload which allows the liver to regenerate. Current standard of care for targeted AILD patients carries a 50% mortality rate. The ELAD has shown a numerical 20% (not statistically significant) mortality benefit vs. standard of care in small phase 2 data sets.” Vital Therapies closed on Friday at $12.50.