VBI Vaccines price target lowered to $6 from $60 at Raymond James

Raymond James analyst Steven Seedhouse lowered the firm’s price target on VBI Vaccines to $6 from $60 and keeps an Outperform rating on the shares. The price target reduction reflects the 30:1 reverse stock split as well as updated opex guidance for 023 including headcount reductions, the analyst tells investors in a research note.