Hookipa Pharma price target lowered to $48 from $50 at RBC Capital

RBC Capital lowered the firm’s price target on Hookipa Pharma (HOOK) to $48 from $50 and keeps an Outperform rating on the shares. Hookipa Pharma and its new management are well-positioned to focus on getting AVALON-1 off the ground with enrollment wrapped up in the phase II portion of the ongoing study in HPV16+ patients, the analyst tells investors in a research note. Recent updates are supportive of the promising efficacy and safety profile seen with eseba-vec, RBC says.