Replimune price target raised to $21 from $18 at Leerink

Leerink analyst Jonathan Chang raised the firm’s price target on Replimune (REPL) to $21 from $18 to reflect an increased probability of success for RP1 in melanoma, while keeping an Outperform rating on the shares. The firm notes the company reported Q3 financial results and provided a pipeline update in line with expectations. Replimune highlighted key progress across its pipeline programs, with the execution of RP1 in combination with nivolumab in anti-PD-1-failed melanoma in focus.