Receptos Up 8%; Wedbush Sees Possible Takeover
Receptos (NASDAQ: RCPT) closed Monday just short of a 52-seek high after an analyst suggested the drug development company could become a takeover candidate.
Receptos is developing drugs for a range of immune system disorders including its lead product for multiple sclerosis and inflammatory bowel disease.
Wedbush's Liana Mousatos, who reiterated an Outperform rating and $63 target, said a conference slated for September 10 in Boston could become a venue for the company to unveil positive data from current drug trials.
Mousatos expects a Phase II trial of its treatment for inflammation of the esophagus to launch in the second half of 2014 along with release of interim results from a trial of its colitis drug.
Receptos closed Monday at $50.69, up 8.24 percent.
Latest Ratings for RCPT
|Apr 2015||UBS||Initiates Coverage on||Buy|
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