Stifel analyst Stephen Willey lowered the firm’s price target on Cue Biopharma to $8 from $9 and keeps a Buy rating on the shares. Stifel anticipates incremental/updated FY23 data from the dose-expansion portion of its Phase 1 trial evaluating CUE-101 in combination with pembrolizumab in 1L HPV+ SCCHN patients to build on "encouraging" preliminary results to date. Furthermore, FY23 dose-escalation data for CUE-102 remains an "interesting option" at these levels and any unambiguous evidence of the single-agent activity could potentially inflect the stock, Stifel tells investors.
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Published first on TheFly
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