Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on REPL stock, giving a Buy rating yesterday.
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Jonathan Chang has given his Buy rating due to a combination of factors that highlight Replimune Group’s promising future. The company recently held an Investor Day which underscored their readiness for the commercial launch of RP1, branded as Tudriqev, particularly in the treatment of anti-PD-1-failed melanoma. The positive clinical data from the IGNYTE trial, which demonstrated the potential for RP1’s approval when used in combination with nivolumab, plays a significant role in this optimistic outlook.
Furthermore, Replimune’s management has outlined a strategic commercial plan targeting key accounts and leveraging existing reimbursement codes to facilitate the adoption of RP1. The enthusiasm from key opinion leaders (KOLs) regarding RP1’s systemic effects and favorable safety profile further supports the potential success of the product. Additionally, the company’s broader RPx platform efforts indicate a robust pipeline beyond melanoma, contributing to the positive sentiment surrounding the stock.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $17.00 price target.
REPL’s price has also changed moderately for the past six months – from $12.500 to $9.750, which is a -22.00% drop .