BMO reiterates bullish call on Receptos

BMO reiterates Receptos (RCPT -0.6%) at Outperform.

"With primary focus on selective S1P1 modulator RPC1063, recent completion of enrollment to the phase 2 portion of the phase 2/3 RADIANCE trial in relapsing MS keeps both the Q4 interim analysis and mid-14 complete analysis on track," analyst Jim Birchenough says, referencing the pipeline update the company provided with its Q3 results.

Price target hiked slightly to $41 (from $40), representing upside of nearly 62% from current levels.

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