JPMorgan raised the firm’s price target on Replimune (REPL) to $19 from $16 and keeps an Overweight rating on the shares. The firm continues to see a high probability of approval for RP1 plus nivolumab in anti-PD1 failed melanoma next week. To reflect “encouraging” physician feedback, the analyst increased the firm’s U.S. peak sales of RP1 to~$700M from $600M. JPMorgan sees the shares rallying to the mid-teens range on approval.
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