Oppenheimer lowered the firm’s price target on Q32 Bio (QTTB) to $20 from $80 and keeps an Outperform rating on the shares. The firm notes Q32 Bio reported negative AD but positive AA results along with an update on clinical development plans for bempikibart. While Oppenheimer is clearly disappointed by bempi’s failure to advance in AD, it also thinks the AA opportunity remains underappreciated, with a potentially differentiated MoA in a highly underserved disease dominated by JAK inhibitors.
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Read More on QTTB:
- Q32 Bio Announces Mixed Results in Clinical Trials
- Q32 Bio price target lowered to $20 from $85 at Piper Sandler
- Q32 Bio downgraded to Market Perform from Outperform at Leerink
- Q32 Bio downgraded to Outperform from Strong Buy at Raymond James
- Q32 Bio downgraded to Equal Weight from Overweight at Wells Fargo
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