POINT Biopharma Global (NASDAQ: PNT) was down in pre-market trading on Wednesday after the company that develops and discovers radiopharmaceuticals proposed a public offering of 13.9 million shares at a price of $9 per share.
The gross proceeds from this offering are expected to be around $125 million and the offering is expected to close on or about September 16.
POINT is also offering the underwriters “a 30-day option to purchase up to an additional 2,085,000 shares of its Common Stock.”
Is POINT Biopharma a Buy?
Analysts are bullish about POINT Biopharma with a Strong Buy consensus rating based on six unanimous Buys.
PNT’s average price prediction of $20.75 implies that the stock has an upside potential of around 104%.
