BMO Capital analyst Evan Seigerman lowered the firm’s price target on Replimune Group to $14 from $70 but keeps an Outperform rating on the shares. The stock has re-rated after the disappointing CERPASS readout in CSCC, but shares settling below $10 ignore promising RP1 data in PD1i failed melanoma and cash of $7 per share from the $497M runway out to 2026, the analyst tells investors in a research note. The firm maintains that RP1 is likely to be a successful first therapeutic in Replimune’s skin cancer franchise, given initial IGNYTE data in melanoma, which significantly de-risked the oncolytic virus platform.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on REPL:
- Replimune Group provides regulatory update on IGNYTE, data from ARTACUS trial
- Replimune Group announces CERPASS trial of CSCC did not meet primary endpoints
- Replimune Shares Initial Primary Analysis Results from CERPASS Clinical Trial in Advanced Cutaneous Squamous Cell Carcinoma and Presents New Data from IGNYTE Clinical Trial of RP1 in Anti-PD1 Failed Melanoma and Non-Melanoma Skin Cancers
- Replimune Group price target lowered to $38 from $42 at JPMorgan
- Replimune Group put volume heavy and directionally bearish
