Barclays analyst Peter Lawson lowered the firm’s price target on Prelude Therapeutics (PRLD) to $1 from $3 and keeps an Underweight rating on the shares. The updated SMARCA2 degrader data show an uptick in response rates for lung cancer at higher doses and class 1 mutations albeit on small number of patients, and the safety profile remains encouraging, the analyst tells investors in a research note. The firm, however, continues to see better risk/reward in other names.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRLD:
- Prelude Therapeutics presents new data from Phase 1 trial of PRT3789
- Prelude announces publication of abstracts on SMARCA Degrader Programs
- Playtika to acquire SuperPlay, Intel says not selling Mobileye: Morning Buzz
- Five Below downgraded, DoorDash upgraded: Wall Street’s top analyst calls
- Prelude Therapeutics upgraded to Buy from Neutral at H.C. Wainwright