Mizuho lowered the firm’s price target on Adverum Biotechnologies (ADVM) to $16 from $20 and keeps an Outperform rating on the shares. The firm found this week’s new data for lead asset ixo-vec “very robust” on both safety and efficacy. The firm remains bullish n ixo-vec but lowered Adverum’s price target to reflects its changed partnership assumption, going from a prior excluding U.S.-only partnership to now a global partnership.
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