Aethlon Medical target adjusted to $23 from $90 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Aethlon Medical to $23 from $90 and keeps a Buy rating on the shares following the reverse 1-for-10 stock split. The analyst notes that Hemopurifier has FDA breakthrough device designation in the U.S. It expects longer timeframes to be associated with Hemopurifier regulatory approval, notably, authorization in 2025 versus its prior projection of 2024 for Hemopurifier use in patients with severe or life-threatening COVID-19, and FDA approval in 2028 versus a prior projection of 2025 in oncology indications.