Evolent Health downgraded at Stephens amid surging cancer costs

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https://www.tipranks.com/news/the-fly/ac-immune-reports-interim-results-from-phase-2-trial-of-aci-7104-056

As previously reported, Stephens analyst Jeff Garro downgraded Evolent Health (EVH) to Equal Weight from Overweight with a price target of $16, down from $38. Rising oncology costs are stressing Evolent’s profitability and exposing timing issues inherent to its at-risk Performance Suite business, the analyst tells investors in a research note. While the firm thinks these weaknesses can be remedied, improving contractual protections across the entire book will take time, the analyst added.

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