Alliance Global Partners lowered the firm’s price target on Barinthus Biotherapeutics to $11 from $12 and keeps a Buy rating on the shares after the company recently announced Q1 results and highlighted progress in multiple programs, including the acceptance of investigational new drug applications for VTP-1000, a preclinical SNAPvax candidate for the treatment of celiac disease, in both Australia and the U.S. The firm’s sum-of-the-parts price target values VTP-300 for chronic HBV at $7 per share, VTP-1000 for Celiac Disease at $2 per share and the remaining potential indications plus cash at $2 per share, the analyst noted.
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