TCR2 Therapeutics (TCRR) PT Raised to $45 at BMO Capital

BMO Capital analyst Do Kim raised the price target on TCR2 Therapeutics (NASDAQ: TCRR) to $45.00 (from $35.00) while maintaining a Outperform rating.

The analyst commented, "We raise our estimates and target price to $45 from $35, following 2 PRs (40% ORR) in the first dose level of Phase 1. Our TC-210 probability of success for mesothelioma increases to 30% from 20%, as the PRs and majority of patients (4/5) were mesothelioma. We believe the early responses speak to TC-210 potency, confirming the TRuC platform's ability to benefit solid tumors. We expect updated Phase 1 data, with additional patients at higher dose levels and more details at a medical meeting in 2H20."

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