Wells Fargo analyst Yanan Zhu lowered the firm’s price target on Affimed (AFMD) to $11 from $15 and keeps an Overweight rating on the shares. The firm notes updated NSCLC data continues to meet the minimum bar set by Wells’ key opinion leaders, though the company is going after a higher dose for further differentiation. The firm thinks the strategy makes sense but does note the 1-1.5 year delay and uncertainty in source of funding.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFMD:
- Affimed price target lowered to $7 from $10 at H.C. Wainwright
- Affimed’s Promising Clinical Update on NSCLC Treatment
- Affimed’s AFM24/atezolizumab combination shows positive results in NSCLC trial
- Affimed price target lowered to $15 from $20 at Wells Fargo
- Affimed reports ‘promising’ Phase 1 efficacy, safety data for AFM28