Aura Biosciences price target lowered to $20 from $23 at Scotiabank

Scotiabank lowered the firm’s price target on Aura Biosciences to $20 from $23 and keeps an Outperform rating on the shares. The analyst believes results presented at AAO demonstrate continued utility of bel-sar out to 12 months of follow-up as evident from the 10 patients included in this analysis and representative of the choroidal melanoma population to be evaluated in Phase 3. However, with the primary efficacy endpoint analysis extended to 15 months, the firm pushed commercial timelines out one year later than originally estimated.