Mizuho lowered the firm’s price target on Adverum Biotechnologies (ADVM) to $16 from $20 and keeps an Outperform rating on the shares. The firm found this week’s new data for lead asset ixo-vec “very robust” on both safety and efficacy. The firm remains bullish n ixo-vec but lowered Adverum’s price target to reflects its changed partnership assumption, going from a prior excluding U.S.-only partnership to now a global partnership.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADVM:
- Adverum Biotechnologies Advances Ixo-vec Gene Therapy Trials
- Adverum Biotechnologies reports results of two trials of Ixo-vec in AMD
- Adverum Biotechnologies price target lowered to $10 from $12 at RBC Capital
- Is ADVM a Buy, Before Earnings?
- Adverum Biotechnologies Advances in Gene Therapy Development