TCR2 Therapeutics (TCRR) PT Lowered to $56 at BMO Capital

March 11, 2021 12:47 PM EST
Get Alerts TCRR Hot Sheet
Price: $23.71 +1.11%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 33
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BMO Capital analyst Do Kim lowered the price target on TCR2 Therapeutics (NASDAQ: TCRR) to $56.00 (from $65.00) while maintaining an Outperform rating.

The analyst commented, "TCR2’s 4Q20 GAAP EPS were ($0.55), above our ($0.58) estimate, but in line with the Street’s ($0.55). The narrower loss versus our estimate was driven by lower OPEX. We expect a gavo-cel Phase 1 update at AACR 2021 (April 10), but mostly translational data will be provided, with additional clinical data expected at ASCO (June 4-8). We decrease our target price to $56 from $65, as we push out gavo-cel and TC-110 launches to 2023 (from 2022) and account for dilution from recent equity offering, partly offset by lower expenses."

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