A - Translate Bio downgraded after Cystic Fibrosis data; Agilent upgrade and more in today's analyst action

Yesterday, announcing its interim Phase 1/2 data in patients with cystic fibrosis, Translate Bio (NASDAQ:TBIO) said that MRT5005 did not lead to a marked improvement in lung function. The shares have lost ~27.6% in the premarket as the stock faces downgrades.Today, citing lack of evidence of efficacy for the messenger-RNA-based candidate, Evercore ISI has lowered the stock to in line from outperform with the price target cut to $21.00 from $25.00 per share to indicate ~18.3% downside to the previous close.Meanwhile, with a target of $20.00 per share, Truist says that despite its efficacy shown as a vaccine, messenger-RNA-based therapeutics are yet to achieve clinical validation and the firm expects the stock to experience volatility until more updates on Cystic Fibrosis are available.Agilent (A) recently appointed Katharine (Kate) Knobil as its first-ever chief medical officer. Noting that the company is well-positioned to outperform in earnings and deliver upward revisions in guidance, Citi analyst Patrick Donnelly

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Translate Bio downgraded after Cystic Fibrosis data; Agilent upgrade and more in today’s analyst action