Fate Therapeutics price target lowered to $65 from $90 at Oppenheimer

Oppenheimer analyst Matthew Biegler lowered the firm’s price target on Fate Therapeutics to $65 from $90 and keeps an Outperform rating on the shares. The analyst had hoped ASH could serve as a catalyst to jumpstart Fate’s shares out of their recent rut. Now, Biegler just hope expectations were low enough to preclude a major sell off. FT576 clearly needs to be dosed more frequently to be competitive with other BCMA CARs, the analyst says, adding that "this is no surprise."