U.S. markets open in 9 hours 22 minutes
  • S&P Futures

    4,216.25
    +6.50 (+0.15%)
     
  • Dow Futures

    33,343.00
    +39.00 (+0.12%)
     
  • Nasdaq Futures

    13,343.00
    +31.75 (+0.24%)
     
  • Russell 2000 Futures

    1,980.20
    +3.90 (+0.20%)
     
  • Crude Oil

    93.92
    -0.42 (-0.45%)
     
  • Gold

    1,806.40
    -0.80 (-0.04%)
     
  • Silver

    20.33
    -0.02 (-0.09%)
     
  • EUR/USD

    1.0322
    -0.0003 (-0.03%)
     
  • 10-Yr Bond

    2.8880
    +0.1020 (+3.66%)
     
  • Vix

    20.20
    +0.46 (+2.33%)
     
  • GBP/USD

    1.2192
    -0.0010 (-0.08%)
     
  • USD/JPY

    133.2080
    +0.2090 (+0.16%)
     
  • BTC-USD

    24,031.77
    -315.88 (-1.30%)
     
  • CMC Crypto 200

    571.62
    -3.12 (-0.54%)
     
  • FTSE 100

    7,465.91
    -41.20 (-0.55%)
     
  • Nikkei 225

    28,508.14
    +688.81 (+2.48%)
     

HC Wainwright Downgrades Humanigen On Disappointing COVID-19 Study - What's Next

·1 min read
  • HC Wainwright downgraded Humanigen Inc (NASDAQ: HGEN) to Neutral from Buy and removed the price target based on the removal of COVID-19 from lenzilumab projections and the lack of near-term catalysts beyond COVID-19 that could potentially drive the shares.

  • The analyst looks to reassess valuation as the lenzilumab opportunities in graft vs. host disease, chronic myelomonocytic leukemia, and CAR-T prophylaxis can potentially be important drivers for the shares.

  • Related: Humanigen's Lenzilumab Disappoints In NIH-Backed COVID-19 Study.

  • HC wainwright says that though the update was unexpected and discouraging, the endemic nature of COVID-19 means the demand for additional studies for variant-targeted treatments is likely to stay.

  • "We expect the company to deemphasize its COVID-19 program and strategically realign its focus on company-sponsored and partner-sponsored programs," the analyst added.

  • If the COVID-19 program were to proceed, a much larger study would be required, most likely in someone else's hands.

  • The analyst notes that enrollment in the Phase 2/3 RATinG trial of patients at high and intermediate risk for acute GvHD is on track for this quarter. Also, initial data from a Phase 2/3 study of lenzilumab in CMML (PREACH-M) is anticipated in early 2023.

  • Price Action: HGEN shares are down 79.8% at $0.60 during the market session on the last check Wednesday.

Latest Ratings for HGEN

Date

Firm

Action

From

To

Sep 2021

Jefferies

Downgrades

Buy

Hold

Sep 2021

JP Morgan

Downgrades

Neutral

Underweight

Sep 2021

HC Wainwright & Co.

Maintains

Buy

View More Analyst Ratings for HGEN

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.