Replimune Group Inc’s shares reached a 52-week high of $15.72 on Tuesday, extending a rally that has lifted the biotech company’s market capitalization to $1.47 billion.
The stock last traded at $15.69, reflecting a 174.3% gain over the past year as investor confidence in its oncology pipeline strengthened. Shares of Replimune have gained 5.12% in mid-afternoon trading, with options data indicating a potential 5.6% move ahead of the company’s earnings release.
Wedbush upgraded its rating on Replimune to outperform from neutral, setting a new price target of $19.00. Leerink also raised its outlook, lifting its target to $17.00, citing high confidence in the combination therapy RP-1 with nivolumab for potential future FDA approval.
The company’s lead asset, TUDRIQEV, the first FDA-approved oncolytic virus combined with a checkpoint inhibitor for advanced melanoma, has been a key driver of investor interest. Cantor Fitzgerald maintained its classification on Replimune, while market data provider InvestingPro tracked the stock’s momentum.
Replimune’s shares have surged 7.41% in the session, with pre-market activity showing a 0.20% rise to $14.80.
