Instil Bio price target lowered to $105 from $110 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Instil Bio (TIL) to $105 from $110 and keeps a Buy rating on the shares following the Q1 report. The firm says Pfizer’s “lucrative” PD-1 x VEGF bispecific deal underscores the attractiveness of tumor-infiltrating lymphocytes. The rising values of these transactions should provide further confidence that the highly positive clinical impact of these PD-1/L1 x VEGF bispecifics is real, the analyst tells investors in a research note.