Replimune Group (NASDAQ:REPL) Lowered to "Underperform" Rating by BMO Capital Markets

Key Points

• BMO Capital Markets downgraded Replimune to an Underperform and set a $1.00 price target, implying roughly a 79% downside from current levels.
• Multiple analysts have sharply cut price targets (examples: Leerink, Jefferies, Wedbush to $2; Piper to $4), leaving a consensus rating of Reduce with an average price target of $4.63.
• The FDA issued a complete response letter (CRL) for Replimune’s lead candidate RP1, a material regulatory setback that coincided with a steep share plunge and a securities-law investigation.

Replimune Group (NASDAQ:REPL - Get Free Report) was downgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "underperform" rating in a research report issued to clients and investors on Monday. They currently have a $1.00 price objective on the stock. BMO Capital Markets' price objective would suggest a potential downside of 79.04% from the company's current price.

Several other research analysts also recently issued reports on the stock. Leerink Partners restated a "market perform" rating and set a $2.00 price objective (down from $11.00) on shares of Replimune Group in a report on Monday. Jefferies Financial Group restated a "hold" rating and set a $2.00 price objective (down from $13.00) on shares of Replimune Group in a report on Monday. Wedbush restated a "neutral" rating and set a $2.00 price objective (down from $19.00) on shares of Replimune Group in a report on Monday. HC Wainwright restated a "sell" rating on shares of Replimune Group in a report on Monday. Finally, Piper Sandler downgraded shares of Replimune Group from an "overweight" rating to a "neutral" rating and set a $4.00 price objective on the stock. in a report on Friday. One analyst has rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $4.63.

Replimune Group Stock Performance

Shares of REPL opened at $4.77 on Monday. The company has a market capitalization of $393.94 million, a PE ratio of -1.39 and a beta of 0.74. Replimune Group has a one year low of $2.68 and a one year high of $13.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.60 and a quick ratio of 5.60. The company's fifty day moving average price is $7.51 and its 200 day moving average price is $7.95.

Replimune Group (NASDAQ:REPL - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.08. As a group, analysts expect that Replimune Group will post -2.97 earnings per share for the current year.

Insider Buying and Selling

In other Replimune Group news, insider Christopher Sarchi sold 6,500 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.01, for a total value of $52,065.00. Following the transaction, the insider directly owned 151,588 shares in the company, valued at $1,214,219.88. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Replimune Group

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of Replimune Group in the fourth quarter worth about $29,000. CWM LLC raised its stake in shares of Replimune Group by 248.6% in the fourth quarter. CWM LLC now owns 4,047 shares of the company's stock worth $39,000 after acquiring an additional 2,886 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Replimune Group by 37.5% in the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company's stock worth $64,000 after acquiring an additional 1,879 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Replimune Group in the second quarter worth about $69,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Replimune Group by 3,638.9% during the third quarter. Russell Investments Group Ltd. now owns 7,777 shares of the company's stock worth $33,000 after buying an additional 7,569 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Key Stories Impacting Replimune Group

Here are the key news stories impacting Replimune Group this week:

• Neutral Sentiment: Piper Sandler cut Replimune to Neutral, signaling less conviction on upside but not an outright sell rating; this reduces potential analyst-driven buying. Read More.
• Negative Sentiment: Jefferies reaffirmed a "hold" but slashed its price target from $13.00 to $2.00 — a large reduction that implies a steep downside vs. current levels and increases selling pressure. Read More.
• Negative Sentiment: Wedbush kept a neutral rating but cut its target from $19.00 to $2.00, another dramatic downward revision that signals low near-term valuation expectations. Read More. Read More.
• Negative Sentiment: JPMorgan reaffirmed an "underweight" rating, which is a continued negative tilt from a large institutional analyst. Read More.
• Negative Sentiment: HC Wainwright reaffirmed a "sell" rating, maintaining an explicit sell-side negative stance that can pressure flows and retail sentiment. Read More.
• Negative Sentiment: The FDA issued a complete response letter for Replimune’s RP1 Biologics License Application for advanced melanoma — a material regulatory setback that delays approval, revenue prospects and raises development/unlocking risk. Read More.
• Negative Sentiment: Mainstream coverage reports the FDA rejection and confirms the CRL, reinforcing negative headlines and investor concern about the program's pathway. Read More.
• Negative Sentiment: Following the FDA response, a securities law firm announced an investigation citing a large share-price drop, which can amplify legal risk perceptions and investor uncertainty. Read More.

About Replimune Group

Replimune Group, Inc is a clinical‐stage biotechnology company focused on developing next‐generation oncolytic immunotherapies for the treatment of solid tumors. The company's proprietary “RP” platform leverages genetically engineered herpes simplex virus type 1 (HSV-1) vectors armed with immunomodulatory payloads to selectively infect, replicate within and destroy cancer cells, while also stimulating systemic antitumor immune responses.

Replimune's lead candidate, RP1, incorporates GM-CSF and a fusogenic protein to enhance both direct oncolysis and immune activation.

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