Replimune Group price target raised to $58 from $43 at Piper Sandler

Piper Sandler analyst Do Kim raised the firm’s price target on Replimune Group to $58 from $43 and keeps an Overweight rating on the shares. The analyst says the company’s positive initial RP1+Opdivo data in PD1-failed melanoma beat expectations. His RP1 estimates increase as he raised the probability of success in melanoma to 60% from 35%.