Street firms cut price targets on Harpoon Therapeutics, but maintain buy ratings

Mar. 14, 2022 11:30 AM ETHarpoon Therapeutics, Inc. (HARP)By: Jonathan Block, SA News Editor

Harpoon

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  • 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.

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