Evercore ISI Group Downgrades Aerovate Therapeutics to In-Line, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group has downgraded Aerovate Therapeutics (NASDAQ:AVTE) from Outperform to In-Line and significantly lowered the price target from $27 to $2.
June 18, 2024 | 5:55 pm
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Evercore ISI Group has downgraded Aerovate Therapeutics from Outperform to In-Line and drastically reduced the price target from $27 to $2, indicating a negative outlook.
The downgrade from Outperform to In-Line and the significant reduction in the price target from $27 to $2 by Evercore ISI Group suggests a negative outlook for Aerovate Therapeutics. This is likely to result in a short-term decline in the stock price as investors react to the lowered expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100