JPMorgan raised the firm’s price target on Replimune Group to $50 from $38 and keeps an Overweight rating on the shares. The analyst also added the shares to the firm’s Analyst Focus List and Positive Catalyst Watch List. The firm sees a high probability of success for RP1 plus cemiplimab in the CERPASS study in cutaneous squamous cell carcinoma. The stock’s reward/risk setup is favorable heading into CERPASS, the analyst tells investors in a research note. JPMorgan sees high probability of share upside to the mid-$30s to high-$40s in “win / homerun scenarios” versus “low probability downside” to the mid-teens per share range.
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