H.C. Wainwright analyst Robert Burns lowered the firm’s price target on Kinnate Biopharma to $25 from $33 and keeps a Buy rating on the shares. The initial results for exarafenib +/- binimetinib "appear encouraging, but the sample sizes are small," the analyst tells investors in a research note. Given that Kinnate de-prioritized development in BRAF class III mutations, the firm removed it from the discounted cash flow based valuation.
Published first on TheFly
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