| Wednesday | ||||
H.C. Wainwright analyst… H.C. Wainwright analyst Robert Burns downgraded Replimune Group to Neutral from Buy with an unchanged price target of $25. The analyst believes the shares are currently fairly priced and recommends taking profits following the recent rally. | ||||
| Over a week ago | ||||
The deal size was… The deal size was increased to $100M in common stock from $80M in common stock and the price range was $22.50-$23.00. JPMorgan, SVB Leerink and BMO Capital acted as joint book running managers for the offering. | ||||
JPMorgan, SVB Leerink and… JPMorgan, SVB Leerink and BMO Capital are acting as joint book running managers for the offering. | ||||
Replimune Group announced… Replimune Group announced a proposed public offering of $80M of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. J.P. Morgan Securities, SVB Leerink, and BMO Capital Markets are acting as joint book-running managers for the proposed offering. Wedbush Securities is acting as lead manager for the proposed offering. | ||||
| Over a month ago | ||||
BMO Capital analyst Do… BMO Capital analyst Do Kim raised the firm's price target on Replimune Group to $40 from $31 and keeps an Outperform rating on the shares after its RP1 data update from its Phase 2 cohorts in Melanoma and Non-Melanoma skin cancer. The analyst notes that his CSCC probability of success increases to 65% from 40% and sees RP1 adding meaningful benefit to anti-PD-1 therapy while supporting multiple accelerated paths to market. | ||||
Barclays analyst Peter… Barclays analyst Peter Lawson raised the firm's price target on Replimune Group to $25 from $21 and keeps an Overweight rating on the shares. After speaking with management, the analyst is encouraged with "deepening of responses" for RP1 plus nivolumab in cutaneous squamous cell carcinoma. | |
BMO Capital analyst Do… BMO Capital analyst Do Kim reiterated an Outperform rating and $31 price target on Replimune Group, calling the weakness in shares following the RP1 Phase 2 update a "buying opportunity." The analyst believes the data "remains solid" and noted that while the stock might be "under pressure due to refractory melanoma responses slipping or discontinuation of the bladder cancer cohort," Kim said neither have meaningful impact to his confidence in RP1. | |
The Phase 1 clinical… The Phase 1 clinical trial of RP3 alone and in combination with anti-PD-1 therapy remains on track to initiate in 2020. | |
The ongoing Phase 1… The ongoing Phase 1 clinical trial evaluating the safety, tolerability, and optimal dose for further development of RP2 alone and in combination with Opdivo remains on track, with initial safety and efficacy data from the single agent RP2 part of the clinical trial together with initial data in combination with Opdivo expected to be presented by the end of 2020. | |
Management holds a… Management holds a conference call to provide an update on Phase 1/2 Clinical Data on patients with melanoma and non-melanoma skin cancers on June 3 at 8 am. Webcast Link |