Replimune Group, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. Wainwright upgraded the rating on the stock to a Buy and gave it a $12.00 price target.
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Robert Burns has given his Buy rating due to a combination of factors surrounding Replimune Group’s recent developments. The company has resubmitted its Biologics License Application for RP1 in combination with Opdivo, targeting advanced melanoma patients who have previously undergone anti-PD1 treatment. This resubmission, considered a comprehensive response to a prior Complete Response Letter, has been accepted by the FDA with a decision expected in April 2026. Consequently, the probability of approval has been significantly increased to 85% from the earlier estimate of 50%.
The IGNYTE trial results further bolster confidence in the approval of RP1 + Opdivo, demonstrating a notable objective response rate and consistent efficacy across various patient sub-groups. Additionally, the combination therapy exhibits a favorable safety profile with a lower incidence of severe treatment-related adverse events compared to other therapies. These positive clinical outcomes and regulatory advancements underpin the upgraded Buy rating and a 12-month price target of $12 per share.
Burns covers the Healthcare sector, focusing on stocks such as Exelixis, Replimune Group, and Cullinan Management. According to TipRanks, Burns has an average return of -5.0% and a 41.32% success rate on recommended stocks.
In another report released on October 22, Leerink Partners also upgraded the stock to a Buy with a $13.00 price target.