Avalo Therapeutics price target raised to $40 from $25 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Avalo Therapeutics (AVTX) to $40 from $25 and keeps a Buy rating on the shares. The firm is “increasingly confident” heading into the AVTX-009 readout. It upped its probability of approval to 35% from 25%. The AVTX-009 Phase 2 data “can be decisively positive without needing to beating anti-IL-17s, but it must show enough efficacy and placebo- adjusted separation to feel undeniably real,” the analyst tells investors in a research note.