- Several Street firms have lowered their price targets for Harpoon Therapeutics (HARP -10.9%) though are keeping either buy or overweight ratings.
- Shares are down 11% in late morning trading.
- Piper Sandler's Joseph Catanzaro lowered his target to $15 from $27 (~282% return based on Friday's close).
- He wrote that the company's TriTAC platform looks "slightly better positioned" for clinical validation, though this year may be centered largely around continued dose-escalation.
- H.C. Wainwright's Swayampakula Ramakanth lowered his price target to $18 from $31 (358% upside) after the company said it was discontinuing development of HPN424 for advanced prostate cancer.
"Albeit the termination of a key program is disappointing, we appreciate management’s decision and believe this could utilize the company’s resources more efficiently to maximize the shareholder’s value," he wrote.
SVB Leerink's Jonathan Chang lowered his price target to $13 from $19 (~383% upside) and Roth Capital Partner's Zegbeh Jalla lowered his target to $14 from $31 (~256% return).
- Check out Harpoon's (HARP -10.9%) recent Q4 2021 results.