Wells Fargo lowered the firm’s price target on Savara (SVRA) to $7 from $8 and keeps an Overweight rating on the shares after the company said it received an RTF letter for Molbreevi’s BLA submission, and that the FDA requested additional data related to CMC. The firm notes RTF was not related to safety concerns or the need for additional efficacy data, and management is confident in a path to approval, especially with optionality from two CDMOs. While unexpected, Wells thinks the fundamental impact of the delay is limited.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SVRA:
- U.S. extends EU tariff deadline, Salesforce to acquire Informatica: Morning Buzz
- Savara Faces FDA Setback for MOLBREEVI Application
- Savara receives RTF letter from FDA for Molbreevi BLA
- Savara announces new data in two poster presentations at ATS Conference 2025
- Savara’s Strategic Positioning and Financial Strength Drive Buy Rating Amid Anticipated Molbreevi Launch