Replimune price target raised to $19 from $16 at Jefferies

Jefferies raised the firm’s price target on Replimune (REPL) to $19 from $16 and keeps a Buy rating on the shares. While still waiting for FDA’s acceptance of the company’s BLA, the firm feels “increasingly confident” that RP1 could be approved under accelerated approval path, which has been one of the key risks seen by investors, the analyst tells investors. The firm has increased its view of the odds of success of RP1 in aPD1 failed melanoma to 80% from 65%, leading to its price target increase.