Fate Therapeutics (FATE) PT Raised to $40 at Oppenheimer

Oppenheimer analyst Matthew Biegler raised the price target on Fate Therapeutics (NASDAQ: FATE) to $40.00 (from $34.00) while maintaining a Outperform rating following the company's update on its iPSC-derived cell therapy programs in conjunction with an equity financing. The update included preliminary data from the first two lymphoma patients treated with FT596, the company’s COVID-19-targeting CARNK.

Biegler believes the results represent a solid foundation that could be improved upon with higher FT596 doses and combination regimens. Updates were also provided for ongoing Phase 1 trials of FT500 and FT516. Since ASH, two additional patients were treated with low-dose FT516, with no objective responses. Oppenheimer anticipates clinical updates for FT516 and FT596 at ASH in December.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Fate Therapeutics (FATE) PT Raised to $3.50 at Wells Fargo
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy