Horizon Technology price target raised to $11.25 from $10.25 at Compass Point

Compass Point raised the firm’s price target on Horizon Technology (HRZN) to $11.25 from $10.25 and keeps a Neutral rating on the shares. Horizon had pushed its leverage ratio up and to manage the leverage down, in late May it raised $40M in a 3.25M share equity offering at $12.50 per share, notes the firm, which adjusted its model for the stock offering and Evelo Biosciences (EVLO) having announced a $25.5M private placement led by Flagship Pioneering. Evelo will use $5M of the offering proceeds to pay down on Horizon’s debt, the firm noted.