H.C. Wainwright downgraded Savara (SVRA) to Neutral from Buy with a price target of $2, down from $6, after the company received a refusal to file letter from the FDA for Molbreevi. The firm says that due to uncertainty from Molbreevi’s situation and a lack of confidence the path forward is “entirely simple and straightforward,” it is unable to continue to recommend Savara shares.
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