Wells Fargo Downgrades Aerovate Therapeutics to Equal-Weight, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Tiago Fauth has downgraded Aerovate Therapeutics (NASDAQ:AVTE) from Overweight to Equal-Weight and significantly lowered the price target from $35 to $2.
June 18, 2024 | 2:28 pm
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Wells Fargo has downgraded Aerovate Therapeutics from Overweight to Equal-Weight and drastically reduced the price target from $35 to $2.
The downgrade from Overweight to Equal-Weight and the significant reduction in the price target from $35 to $2 by a major financial institution like Wells Fargo is likely to negatively impact investor sentiment and the stock price of Aerovate Therapeutics in the short term.
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