Replimune Group (NASDAQ:REPL) Rating Increased to Strong-Buy at Piper Sandler

Key Points

• Piper Sandler upgraded Replimune Group to “strong buy” from “hold,” while other analysts also issued upgrades. Despite this, the broader analyst consensus remains “hold,” with an average price target of $9.29.
• Replimune shares opened at $11.20 and have risen 107% over the cited period, trading near their 12-month high of $12.50. The rally follows favorable FDA advisory committee support for RP1 in advanced melanoma, including a 10-3 vote viewed as improving the drug’s approval prospects.
• The company reported a quarterly loss of $0.76 per share, missing the $0.66 consensus estimate, and analysts expect a full-year loss of $2.44 per share. An insider sold 12,000 shares, while institutional investors own 92.53% of the stock.

Replimune Group (NASDAQ:REPL - Get Free Report) was upgraded by analysts at Piper Sandler from a "hold" rating to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

REPL has been the topic of several other reports. JPMorgan Chase & Co. upgraded Replimune Group from a "neutral" rating to an "overweight" rating and set a $17.00 price objective on the stock in a research report on Friday, June 26th. Wedbush upgraded Replimune Group from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $9.00 to $12.00 in a research report on Friday. Wall Street Zen raised Replimune Group from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded shares of Replimune Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 20th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $2.00 price target (down from $13.00) on shares of Replimune Group in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.29.

Replimune Group Stock Up 107.0%

REPL opened at $11.20 on Friday. The company's 50-day moving average price is $9.49 and its two-hundred day moving average price is $7.38. Replimune Group has a twelve month low of $1.50 and a twelve month high of $12.50. The stock has a market cap of $941.14 million, a price-to-earnings ratio of -3.31 and a beta of 0.86. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.63.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its earnings results on Monday, June 29th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.10). As a group, equities analysts expect that Replimune Group will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher Sarchi sold 12,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.24, for a total transaction of $110,880.00. Following the transaction, the insider directly owned 180,962 shares of the company's stock, valued at approximately $1,672,088.88. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Replimune Group

Large investors have recently bought and sold shares of the company. EcoR1 Capital LLC purchased a new position in Replimune Group during the first quarter valued at $7,650,000. Jefferies Financial Group Inc. purchased a new stake in shares of Replimune Group in the 4th quarter worth about $6,942,000. Candriam S.C.A. bought a new position in shares of Replimune Group in the 1st quarter worth about $3,014,000. Persistent Asset Partners Ltd bought a new position in shares of Replimune Group in the 4th quarter worth about $598,000. Finally, SG Americas Securities LLC increased its stake in shares of Replimune Group by 110.8% in the 1st quarter. SG Americas Securities LLC now owns 151,674 shares of the company's stock worth $1,160,000 after acquiring an additional 79,719 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

More Replimune Group News

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

• Positive Sentiment: The FDA’s Cellular, Tissue, and Gene Therapies Advisory Committee backed results from the IGNYTE trial of RP1 (vusolimogene oderparepvec) combined with nivolumab for advanced melanoma patients whose disease progressed after anti-PD-1 therapy. The panel considered the evidence and clinical benefit meaningful despite concerns about the trial design. Replimune surges after FDA advisers back skin cancer drug
• Positive Sentiment: The 10-3 vote was widely viewed as a favorable regulatory signal, with analysts describing the panel outcome as overwhelmingly positive and suggesting that RP1’s approval prospects have improved. REPL Stock Tracks Best Day Ever
• Positive Sentiment: Replimune formally announced the favorable committee outcome for its resubmitted Biologics License Application, giving investors a clearer path toward a potential commercial product. Replimune Announces Favorable Outcome of FDA Advisory Committee Meeting

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.