Investing.com - Nippon Shinyaku Co Ltd (TYO:4516) stock rating was upgraded by JPMorgan from Neutral to Overweight with a price target raised to JPY8,000.00 from JPY3,200.00.
The significant price target increase follows successful Phase 3 HOPE-3 trial results for deramiocel (CAP-1002), a treatment for Duchenne muscular dystrophy (DMD).
JPMorgan now forecasts peak sales of $1.1 billion (¥157.5 billion) for deramiocel by fiscal year 2032, assigning a 75% probability of success for the drug candidate.
The drug would be administered by intravenous infusion once every three months and, if approved, would become the first treatment for skeletal muscle myopathy and cardiomyopathy associated with DMD.
JPMorgan's sales forecast assumes an annual treatment cost of $1 million on a gross-to-net basis with a peak patient population of approximately 1,500 patients.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.