Leerink Partners Upgrades Replimune Group (NASDAQ:REPL) to "Outperform"

Key Points

• Leerink Partners has upgraded Replimune Group from a "market perform" to an "outperform" rating with a target price of $13.00, indicating a potential upside of 49.32% from its previous close.
• Despite the upgrade, Replimune has received mixed ratings from other brokerages, with high volatility in target prices ranging from $2.00 to $31.00.
• Replimune Group's stock saw a significant increase during midday trading, reaching $8.71, up $4.21, with a trading volume notably higher than its average.

Replimune Group (NASDAQ:REPL - Get Free Report) was upgraded by stock analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a report released on Monday,Briefing.com Automated Import reports. The brokerage currently has a $13.00 price objective on the stock. Leerink Partners' target price would suggest a potential upside of 49.32% from the company's previous close.

Several other brokerages also recently commented on REPL. JPMorgan Chase & Co. restated an "underweight" rating on shares of Replimune Group in a research report on Friday, September 19th. Jefferies Financial Group cut their target price on shares of Replimune Group from $31.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Wedbush upgraded Replimune Group from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $4.00 to $18.00 in a research report on Monday. Piper Sandler downgraded Replimune Group from an "overweight" rating to a "neutral" rating and set a $3.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, BMO Capital Markets downgraded Replimune Group from an "outperform" rating to an "underperform" rating and lowered their target price for the company from $27.00 to $2.00 in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Replimune Group presently has an average rating of "Hold" and a consensus target price of $9.50.

Replimune Group Stock Performance

Replimune Group stock traded up $4.21 during midday trading on Monday, hitting $8.71. The stock had a trading volume of 70,326,964 shares, compared to its average volume of 4,307,433. Replimune Group has a 52-week low of $2.68 and a 52-week high of $17.00. The company has a market capitalization of $679.59 million, a PE ratio of -2.74 and a beta of 0.42. The firm's fifty day moving average is $5.03 and its two-hundred day moving average is $7.27. The company has a current ratio of 6.94, a quick ratio of 6.94 and a debt-to-equity ratio of 0.21.

Replimune Group (NASDAQ:REPL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). On average, research analysts forecast that Replimune Group will post -2.97 EPS for the current year.

Insider Activity

In other news, CFO Emily Luisa Hill sold 9,154 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $5.37, for a total transaction of $49,156.98. Following the transaction, the chief financial officer owned 134,368 shares of the company's stock, valued at approximately $721,556.16. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by company insiders.

Institutional Trading of Replimune Group

Large investors have recently made changes to their positions in the stock. Griffin Asset Management Inc. bought a new stake in Replimune Group during the 3rd quarter valued at about $82,000. Osaic Holdings Inc. lifted its holdings in shares of Replimune Group by 26,006.0% in the 2nd quarter. Osaic Holdings Inc. now owns 26,106 shares of the company's stock worth $243,000 after buying an additional 26,006 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Replimune Group by 394.0% in the second quarter. Squarepoint Ops LLC now owns 67,929 shares of the company's stock valued at $631,000 after acquiring an additional 54,178 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Replimune Group by 2,020.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,692 shares of the company's stock worth $90,000 after acquiring an additional 9,235 shares in the last quarter. Finally, Exome Asset Management LLC increased its holdings in Replimune Group by 34.9% during the second quarter. Exome Asset Management LLC now owns 397,846 shares of the company's stock valued at $3,696,000 after buying an additional 103,000 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

About Replimune Group

Replimune Group, Inc, a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer. The company's proprietary tumor-directed oncolytic immunotherapy product candidates are designed and intended to activate the immune system against cancer. Its lead product candidate is RP1, a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF, which is in Phase I/II clinical trials for a range of solid tumors; and that has completed Phase II clinical trials for treating cutaneous squamous cell carcinoma.

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