Todays Talk
Revance price target lowered to $40 from $44 at Needham 09:26
RVNC
Needham lowered the firm's price target on Revance to $40 from $44 after its wider than expected Q2 loss but keeps a Buy rating on the shares. Daxxify launch trajectory should pick up steam in the second half of the year, driven by the recent sales force expansion and the June launch of the "BreakUpWithBotox" DTC campaign, the analyst tells investors in a research note.
Iovance Biotherapeutics price target lowered to $20 from $23 at Baird 07:19
IOVA
Baird analyst Collen Kusy lowered the firm's price target on Iovance Biotherapeutics to $20 from $23 and keeps an Outperform rating on the shares. The firm said they reported 2Q23 results and notably, launch preparedness is coming into view, with many treatment centers already onboarding, and management expects a strong launch. Execution continues on its regulatory strategy in melanoma and lung cancer.
Enanta downgraded to Underweight from Neutral at JPMorgan 06:25
ENTA
JPMorgan downgraded Enanta to Underweight from Neutral with a $14 price target. The analyst sees an "undifferentiated" efficacy profile for EDP-235 post the Phase 2 SPRINT readout, and with pivotal development for the asset subject to partnership, a challenging path ahead for the candidate in COVID-19. Moreover, independent of partnership, there are several hurdles to both successful trial execution and detection of clinical benefit with a direct antiviral in a post-COVID exposed setting, with a commercial launch likely a 2027 or beyond event, the analyst tells investors in a research note. The firm believes Enanta shares will remain under pressure pending positive data from the RSVPeds or RSVHR trials.
Revance price target lowered to $41 from $48 at H.C. Wainwright 06:09
RVNC
H.C. Wainwright analyst Douglas Tsao lowered the firm's price target on Revance to $41 from $48 and keeps a Buy rating on the shares post the Q2 report. While early, Daxxify is showing good traction, the analyst tells investors in a research note.
