Evercore ISI lowered the firm’s price target on Cabaletta Bio to $15 from $25 and keeps an Outperform rating on the shares. Shares of Cabaletta are down 80% year-to-date and is at a pivotal point, the analyst tells investors in a research note. While lupus is obviously crowded, Cabaletta could be better positioned in other indications like SSc or myositis, the firm says.
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