Theseus Pharmaceuticals price target lowered to $9 from $22 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Theseus Pharmaceuticals to $9 from $22 and keeps a Buy rating on the shares. In a decision “which confounds” the Street’s positive view towards THE-630, Theseus yesterday announced the termination of development for THE-630 in patients with gastrointestinal stromal tumors, the analyst tells investors in a research note. The company intends to leverage learnings from THE-630 to nominate a new KITi for GIST patients, which will extend development timelines up to three years, pushing potential approval beyond 2027, says the firm.