Wedbush downgraded Replimune (REPL) to Neutral from Outperform with a price target of $2, down from $19, after the FDA issued a second complete response letter for the company’s BLA for RP1 in combination with nivolumab in PD-1 refractory melanoma. Overall, Wedbush views the additional CRL as disappointing given what it viewed as convincing treatment effect in a patient population with significant unmet need.
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Read More on REPL:
- Replimune downgraded to Sell from Buy at H.C. Wainwright
- Replimune downgraded to Underweight from Neutral at JPMorgan
- Replimune downgraded to Hold from Buy at Jefferies
- Replimune downgraded to Underperform from Market Perform at BMO Capital
- Replimune downgraded to Neutral from Overweight at Cantor Fitzgerald