Celyad target lowered to $48 on new launch timeline at H.C. Wainwright.
H.C. Wainwright analyst Edward White lowered his price target for Celyad to $48 from $52 after Celyad presented updates on CYAD-01 and CYAD-101. Both studies showed disease control with patients exhibiting partial response and stable disease, White tells investors in a research note. And importantly, both therapies were well tolerated as there were no reports of cytokine syndrome release Grade 2 or higher, and no serious adverse events, dose-limiting toxicities nor on-target off-tumor toxicity, adds the analyst. The analyst trimmed his price target after moving back his launch expectation for CYAD-01 to 2024. White keeps a Buy rating on the shares.