Receptos Up 8%; Analyst Sees Possible Takeover

Receptos Inc.

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 Moussatos, 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 a share, up 8.24 percent.