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Receptos Up 8%; Wedbush Sees Possible Takeover

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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

DateFirmActionFromTo
May 2015NomuraMaintainsBuy
Apr 2015UBSInitiates Coverage onBuy
Jan 2015Evercore PartnersInitiates Coverage onBuy

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Posted-In: Liana MousatosAnalyst Color News Price Target Reiteration FDA After-Hours Center Analyst Ratings

 

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