Checkpoint Therapeutics price target lowered to $14 from $16 at Lake Street

Lake Street analyst Thomas Flaten lowered the firm’s price target on Check Point to $14 from $16 and keeps a Buy rating on the shares following the Q2 results. The approval pathway for cosibelimab is relatively de-risked given approval of other products in the same indication and the robust cosibelimab dataset, the analyst tells investors in a research note. The company has a unique and monetizable asset in cosibelimab, and Lake Street remains optimistic about the ability to drive value for shareholders in the near-term.