UPDATE: Piper Sandler Starts Replimune Group (REPL) at Overweight Seeing Most Derisked Oncolytic Virus Company

(Updated - November 19, 2021 9:29 AM EST)

Piper Sandler analyst Do Kim initiates coverage on Replimune Group (NASDAQ: REPL) with a Overweight rating and a price target of $52.00 on the belief that the company is the most de-risked name in the oncolytic virus space.

The analyst believes the company has an established playbook for clinical validation for lead therapies RP1 and RP2, stating "Replimune pioneered the way for a successful oncolytic immunotherapy, with management's prior development of the first FDA-approved oncolytic virus, Imylgic (T-Vec, Amgen acquired for $1B). Replimune's platform builds on the proven T-Vec blueprint, with a more potent HSV-1 viral strain, multiple payload insertions and intratumoral delivery, to provide greater tumor killing activity and enhanced immune stimulation. We expect potentially registrational RP1 data in CSCC and melanoma (4Q22) to support our $52 price target. In the interim, we believe initial RP3 monotherapy Phase 1 solid tumor and RP1+Opdivo Phase 2 NSCLC data in 1Q22 could provide significant upside to our estimates."

For an analyst ratings summary and ratings history on Replimune Group click here. For more ratings news on Replimune Group click here.

Shares of Replimune Group closed at $33.27 yesterday.

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