NEW YORK () -- Shares of Retrophin () were surging 30.73% to $21.33 on heavy trading volume mid-Wednesday afternoon after the company reported positive for a phase II trial of its sparsentan drug.
Leerink increased its price target on the stock to $32 from $27 with an "outperform" rating following the results.
The firm said it is "very optimistic" the drug will be approved, but is unsure whether the results Retrophin posted today will be sufficient to support accelerated approval, the Fly reports.
The drug is...
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