H.C. Wainwright raised the firm’s price target on Instil Bio to $120 from $40 and keeps a Buy rating on the shares. The firm updated its model to capture additional potential market niches for SYN-2510. SYN-2510 could become the next-generation version of the Roche PD-L1 inhibitor, Tecentriq, the analyst tells investors in a research note. The firm added extensive-stage small cell lung cancer to its model, saying PD-L1 inhibitors dominate this particular oncology indication.
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