B. Riley lowered the firm’s price target on PDS Biotechnology to $11 from $14 and keeps a Buy rating on the shares. The post-Q4 earnings’ selloff related to PDS Biotechnology’s shift from doublet to triplet development overlooks the underlying rationale of the materially increasing probability of success given the previously observed additive efficacy benefit observed when PDS01ADC is added to PDS0101+Keytruda, the analyst tells investors in a research note. The one year plus potential delay to timing of market entry drives the price target decrease, the firm says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDSB:
- Options Volatility and Implied Earnings Moves Today, March 27, 2024
- PDS Biotech Announces Clinical Strategy Update and Reports Full Year 2023 Financial Results
- PDS Biotechnology reports 2023 EPS ($1.39), consensus ($1.46)
- PDS Biotechnology to prioritize triple combination in place of VERSATILE-003
- Options Volatility and Implied Earnings Moves This Week, March 26 – March 28, 2024
