Anebulo Pharmaceuticals price target lowered to $4 from $6 at Ladenburg

Ladenburg lowered the firm’s price target on Anebulo Pharmaceuticals to $4 from $6 and keeps a Buy rating on the shares after the company reported its Q2 expenses and provided business updates. The firm, which thinks a recently established $10M credit facility weakens the capital structure, “scaring off potential investors and adding uncertainties to the mix,” made changes to its model, mostly pushing the selonabant launch from 2026 to 2028, which “makes the path to FDA approval longer and more costly,” the analyst tells investors.