Raptor Pharmaceutical sinks following bearish article

|About: Raptor Pharmaceutical Corp. (RPTP)|By:, SA News Editor

Raptor Pharmaceutical (RPTP) drops 5.7% to $12.02 following a bearish piece on Seeking Alpha by Gravity Research, which has given the stock a price target of below $4 after initiating coverage.

Gravity Research reckons that the most that Raptor can expect to generate from its flagship drug Procysbi, which the FDA recently approved for treating nephropathic cystinosis, is "less than $4/share even under ideal conditions"

Gravity Research also "assigns zero value to Raptor's pipeline due to strong evidence that the fundamental theories behind its leading indications are flawed."

Nephropathic cystinosis is a rare genetic disorder "that causes the amino acid cystine to accumulate in every cell of the body, leading to kidney problems and the loss of too much sugar, proteins, and salt through the urine." (Medscape)