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Point Biopharma price target lowered to $14 from $17 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Point Biopharma (PNT) to $14 from $17 and keeps an Overweight rating on the shares following the agreement with Lantheus (LNTH). The analyst says the deal strengthens Point’s balance sheet. The company has a "dramatically strengthened" balance sheet with over $550M in cash to advance PNT2004 broadly in solid tumors, Tenthoff tells investors in a research note.

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