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Savara price target lowered to $2 from $3 at Evercore ISI

Evercore ISI lowered the firm’s price target on Savara (SVRA) to $2 from $3 and keeps an In Line rating on the shares. Chemistry, Manufacturing, and Controls “plagued” the BLA for Molbreevi in autoimmune pulmonary alveolar proteinosis, as the firm expected, the analyst tells investors. The firm, which expects Savara could be ready to refile the BLA in Q4, has pushed out launch expectations to January 2027, while maintaining its view of 60% probability of approval pending additional details, the analyst tells investors.

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