Piper Sandler upgraded Replimune (REPL) to Overweight from Neutral with a price target of $13, up from $8. The FDA’s acceptance of the application resubmission for RP1 plus nivolumab for the treatment of advanced melanoma progressing on PD-1 based therapy is unexpected, the analyst tells investors in a research note. The firm views the potential for a near-term approval as a “very pleasant surprise.” Piper now expects mid-2026 launch for an indication with few treatment options.
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