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Why Calliditas Therapeutics Stock Trading Higher Today

Calliditas Therapeutics (NASDAQ: CALT) shares are trading higher on Tuesday after Jefferies initiated coverage on the stock with a Buy rating and a price target of $44 per share.

Benzinga · -

Calliditas Therapeutics (NASDAQ:CALT) shares are trading higher on Tuesday after Jefferies initiated coverage on the stock with a Buy rating and a price target of $44 per share.

Calliditas Therapeutics operates as a specialty pharmaceutical company in Sweden. The company is engaged in the provision of pharmaceutical products for patients with niche indications. It is focused on the development and commercialization of the product candidate Nefecon intended for the treatment of patients with the inflammatory renal disease IgA nephropathy, a disease that causes chronic inflammation of the kidneys.

Calliditas Therapeutics shares were trading up 20.05% at $23.95 at the time of publication Tuesday. The stock has a 52-week high of $24.97 and a 52-week low of $19.