Truist Securities Downgrades POINT Biopharma Global to Hold, Lowers Price Target to $12.5
Portfolio Pulse from Benzinga Newsdesk
Truist Securities has downgraded POINT Biopharma Global (NASDAQ:PNT) from Buy to Hold and lowered the price target from $13 to $12.5.
October 04, 2023 | 1:32 pm
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NEGATIVE IMPACT
POINT Biopharma Global has been downgraded from Buy to Hold by Truist Securities, with a lowered price target of $12.5.
The downgrade from Buy to Hold indicates a less optimistic outlook for the company's stock, which could lead to a decrease in demand and potentially a lower stock price. The lowered price target also suggests that the analyst believes the stock is currently overvalued, which could further discourage investment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100