Guggenheim raised the firm’s price target on Adicet Bio (ACET) to $8 from $7 and keeps a Buy rating on the shares after the company presented “impressive data” for ADI-001 in lupus nephritis and systemic lupus erythematosus. The firm, which notes that it has fine-tuned quarterly forecasts to incorporate updated operating cadence assumptions, believes the stock appears “significantly undervalued” and would be buyers, especially at current levels.
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