Canaccord analyst William Maughan lowered the firm’s price target on Harpoon Therapeutics to $30 from $40 and keeps a Buy rating on the shares. The firm noted Harpoon presented positive Ph1/2 interim data for HPN328 (DLL3xCD3 T cell engager) at ESMO23. The clinical data were as good as could have reasonably been hoped for but the stock is trading down in reaction to a financing. Canaccord thinks the disconnect between the fundamentals and the enterprise value is blatant and that the weakness around the financing is a buying opportunity.
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Read More on HARP:
- Harpoon Therapeutics announces up to $150M private placement
- Harpoon Therapeutics Announces Up to $150 Million Private Placement
- Harpoon announces updated interim data from Phase 1/2 trial of HPN328
- Harpoon Therapeutics Announces Updated Interim Tolerability and Response Data from Phase 1/2 Clinical Trial of T Cell Engager HPN328 at ESMO Congress 2023
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