UPDATE: Wedbush Upgrades Fate Therapeutics (FATE) to Outperform

Wedbush analyst David Nierengarten upgraded Fate Therapeutics (NASDAQ: FATE) from Neutral to Outperform with a price target of $74.00 (from $71.00).

The analyst comments "We are incrementally more positive on FATE shares after the company updated its Phase 1/2 studies of FT516 and FT596, its off-the-shelf iPSC-derived natural killer (iNK) cell therapies, in combination with rituximab for relapsed/refractory (r/r) B-Cell Lymphoma (BCL) patients. Overall response rates (and importantly complete response rates) have been consistent with prior data, and with added durability of response data, along with a more attractive valuation, we believe that the risk/reward for FATE shares has improved significantly.
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For an analyst ratings summary and ratings history on Fate Therapeutics click here. For more ratings news on Fate Therapeutics click here.

Shares of Fate Therapeutics closed at $46.44 yesterday.

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