TD Cowen Downgrades Aerovate Therapeutics Inc (AVTE) to Hold

TD Cowen analyst Joseph Thome downgraded Aerovate Therapeutics Inc (NASDAQ: AVTE) from Buy to Hold.

The analyst comments "Aerovate announced AV-101 did not achieve either the primary PVR endpoint or key secondary 6MWD endpoint for the Ph. IIb portion of the IMPAHCT study, and Aerovate will stop the Ph. III work on the program. This result comes as a disappointment given the encouraging efficacy signals from the prior Ph. III IMPRES study. We move to Hold as the path forward for the company is unfortunately unclear."

For an analyst ratings summary and ratings history on Aerovate Therapeutics Inc click here. For more ratings news on Aerovate Therapeutics Inc click here.

Shares of Aerovate Therapeutics Inc closed at $24.62 yesterday.

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