Point Biopharma downgraded to Market Perform from Outperform at Leerink

Leerink analyst Faisal Khurshid downgraded Point Biopharma to Market Perform from Outperform with a price target of $12.50, up from $11, to reflect the Eli Lilly (LLY) acquisition price. Leerink sees the likelihood of a higher bid at this juncture as low, and views the acquisition as a positive for strategic interest in the radiopharma space, the analyst tells investors in a research note.