Chiasma price target raised to $22 from $13 at Piper Sandler

Piper Sandler analyst Edward Tenthoff raised the firm’s price target on Chiasma to $22 from $13 and reiterates an Overweight rating on the shares after the FDA approved Mycapssa, the first and only oral therapy for the treatment of acromegaly. The analyst sees “significant” demand for an oral therapy from acromegaly patients who he notes currently receive “painful” monthly injections and often experience break-through symptoms and insufficient coverage. Tenthoff continues to forecast total Mycapssa sales of $3M and $30.6M in 2021. Chiasma shares in late day trading are down 7.5% to $6.08.