H.C. Wainwright raised the firm’s price target on Instil Bio to $25 from $18 and keeps a Buy rating on the shares. The firm increased the price target to reflect the opportunity with Instil’s new PDL1xVEGF bispecific antibody. The analyst added SYN-2510 to the model, with a “conservative penetration” rate in non-small cell lung cancer, reflecting the initial success from ImmuneOnco in the squamous population.
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