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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADVM:
- Adverum Biotechnologies Advances Ixo-vec Gene Therapy Trials
- Adverum Biotechnologies reports results of two trials of Ixo-vec in AMD
- Adverum Biotechnologies price target lowered to $10 from $12 at RBC Capital
- Is ADVM a Buy, Before Earnings?
- Adverum Biotechnologies Advances in Gene Therapy Development