Piper Sandler Downgrades AlloVir to Neutral, Lowers Price Target to $1.5
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Christopher Raymond has downgraded AlloVir (NASDAQ:ALVR) from Overweight to Neutral and significantly reduced the price target from $27 to $1.5.
December 22, 2023 | 2:32 pm
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NEGATIVE IMPACT
AlloVir's stock rating was downgraded by Piper Sandler from Overweight to Neutral, and the price target was cut from $27 to $1.5, indicating a bearish outlook.
The downgrade by a prominent analyst from Piper Sandler suggests a significant change in the company's outlook, which is likely to influence investor sentiment negatively. The drastic reduction in the price target may lead to a loss of investor confidence and a potential decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100