Leap Therapeutics price target lowered to $3 from $6 at Mizuho

Mizuho analyst Mara Goldstein lowered the firm’s price target on Leap Therapeutics to $3 from $6 and keeps a Buy rating on the shares. The shares traded off on the Flame acquisition given the sizable dilution, but the optionality Flame brings, including an additional $50M in cash, could be material, the analyst tells investors in a research note. As such, the analyst sees a value creation opportunity going forward for Leap Therapeutics.