Jefferies downgraded Replimune (REPL) to Hold from Buy with a price target of $2, down from $13. The firm sees a “tough road ahead” for the company after RP1’s complete response letter from the FDA. Management confirmed that RP1 would not be further developed without timely accelerated approval, the analyst tells investors in a research note. Jefferies believes Replimune’s path forward remains uncertain.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REPL:
- Replimune downgraded to Underperform from Market Perform at BMO Capital
- Replimune downgraded to Neutral from Overweight at Cantor Fitzgerald
- Replimune says FDA’s CRL for RP1 ‘disappointing’
- Replimune says FDA ‘appears to have contradicted their positions’ in CRL
- Replimune downgraded to Neutral at Piper Sandler after second CRL