Seven of eight analysts covering the stock rate it "strong buy" or "buy"; one recommends "sell", with a median price target of $16.50, per LSEG data.
Shares jump after $150 million follow-on
Replimune's REPL.O shares jump 14.5% to $13.82 on Monday after a $150 million follow-on priced to fund its recently approved skin cancer drug.
Woburn, Massachusetts-based REPL early Monday sold about 12.4 million shares, including about 2.7 million pre-funded warrants, at $12.06.
Leerink, JP Morgan and Cantor Fitzgerald are bookrunners.
Proceeds to support Tudriqev launch and RP2 development
REPL expects to use net offering proceeds to fund commercial launch of Tudriqev and broadening the RP2 clinical development plans, per the prospectus.
Late Thursday, the U.S. FDA approved Tudriqev in combination with Bristol Myers Squibb's BMY.N Opdivo in advanced melanoma in patients whose tumors grew despite prior treatment.
REPL's stock closed at $5.41 on July 29, which was its last close before the regulator's panel of advisors voted in favor of the drug.
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