JPMorgan analyst Anupam Rama downgraded Replimune (REPL) to Underweight from Neutral without a price target after the company received another complete response letter from the FDA for RP1 plus nivoluma in anti-PD1 failed melanoma. The firm cites the news as “disappointing,” saying it thought the totality of the data for RP1 warranted an approval. JPMorgan expects Replimune shares to trade down into the low single digits amid greater uncertainty on the prospects for RP1.
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Read More on REPL:
- 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
- Replimune says FDA’s CRL for RP1 ‘disappointing’
- Replimune says FDA ‘appears to have contradicted their positions’ in CRL