Kiora Pharmaceuticals price target lowered to $6 from $10 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen lowered the firm’s price target on Kiora Pharmaceuticals to $6 from $10 and keeps a Buy rating on the shares post the Q4 results. Assuming 7.2M shares outstanding at the end of 2023, this yields a value of approximately $6, the analyst tells investors in a research note. The firm believes Kiora needs to raise additional capital to fund operations within the next 12 months.