As previously reported, BofA analyst Tazeen Ahmad upgraded Fate Therapeutics (FATE) to Neutral from Underperform with an unchanged price target of $3 after a case study report for the first active lupus nephritis patient dosed with FT819 in the autoimmune phase 1 study demonstrated the ability to achieve DORIS clinical remission at six-months follow-up. While the firm thinks the update provides supporting evidence for the company’s pivot from oncology to autoimmune and justifies a rating change, it also thinks additional data is needed in more patients before making changes to its model, the analyst tells investors.
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Read More on FATE:
- Fate Therapeutics upgraded to Neutral from Underperform at BofA
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- Fate Therapeutics presents 6-month data on first lupus patient
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