Replimune, Snowflake, and Cloudflare shares surged to annual highs last week amid a series of positive company catalysts, Wall Street optimism, and earnings anticipation.

  • REPL stock surged about 107% at close after an independent panel of experts advised the U.S. Food and Drug Administration in favor of its experimental treatment for advanced melanoma last week. 
  • SNOW stock surged to a 52-week high of $304.17 on Friday, extending optimism after Wells Fargo raised the price target on the company to $500 from $320.
  • NET shares jumped to a 52-week high of $293.80 on Friday as Wall Street hiked price targets on the company ahead of its second-quarter (Q2) results expected on Aug. 6. 

Shares of Replimune Group Inc. (REPL), Snowflake Inc. (SNOW), and Cloudflare Inc. (NET) shares surged to annual highs on Friday last week amid a series of positive company catalysts, Wall Street optimism, and earnings anticipation. 

REPL stock surged about 107% at close after an independent panel of experts advised the U.S. Food and Drug Administration in favor of its experimental treatment for advanced melanoma last week. 

SNOW stock closed down about 1.62% after clocking a 52-week high, while NET stock also fell 1.56% at close after netting a record high. 

Replimune Jumps On FDA Optimism

REPL shares jumped to an annual high of $12.50 on Friday, extending gains following the announcement of the favorable outcome after a meeting of the FDA’s Cellular, Tissue, and Gene Therapies Advisory Committee. 

The company said that the panel voted 10-3 on the results from a key clinical study of the company’s therapy, RP1, concluding that it was both reliable and clinically meaningful for patients with advanced melanoma who had already progressed on prior anti-PD-1 therapy.

RP1 is an experimental treatment that employs a modified virus to target tumors and enhance the immune system's ability to fight cancer. The agency’s final decision is still pending and a larger confirmatory trial is already underway.

REPL stock has gained about 96% in the last one year, while retail sentiment on Stocktwits was ‘extremely bullish’ at the time of writing. 

Snowflake Gets Wall Street Thumbs Up

SNOW stock surged to a 52-week high of $304.17 on Friday, extending optimism over Wells Fargo’s price target hike. Earlier last week, Wells Fargo raised the price target on Snowflake to $500 from $320 and maintained an ‘Overweight’ rating on the shares, noting that "the game has changed." 

The revised target implies an upside of more than 70% from its last closing price.

The analyst said that AI agents are spending higher on Snow, adding that investors underappreciate the upside potential of the company as AI becomes the primary growth driver. The analyst said that it sees Snow as a near-term AI beneficiary without capex requirements or model dependence.

Earlier, Snowflake introduced Cortex AI Gateway and several AI security innovations that it said would establish the foundation for trusted agent interoperability. 

SNOW stock has gained over 40% in the last one year, with retail sentiment on Stocktwits in the ‘bullish’ territory at the time of writing. 

Cloudflare Gains Ahead Of Q2 Results

NET shares jumped to a 52-week high of $293.80 on Friday as Wall Street hiked price targets on the company ahead of its second-quarter (Q2) results expected on Aug. 6. 

Earlier last week, Bank of America raised the price target on Cloudflare to $330 from $255 and maintained a Buy rating on the shares. This implies an upside of more than 12% from its last close. 

The firm said that it is updating its valuation framework for several names in its cybersecurity coverage to reflect the sector's ongoing multiple expansion, driven by accelerating AI adoption and improving investor sentiment. 

As per Fiscal.ai data, Wall Street expects the company to post a 30% increase in revenue to $666.36 million in the upcoming quarter. Earnings per share is forecast at $0.27 compared to $0.21 posted in the previous comparable quarter. 

NET stock has gained more than 33% in the last one year, with retail sentiment on Stocktwits ‘bearish’ at the time of writing. 

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