Roth MKM Maintains Buy on First Wave BioPharma, Adjusts Price Target To $40
Portfolio Pulse from Benzinga Newsdesk
Roth MKM analyst Jonathan Aschoff has maintained a Buy rating on First Wave BioPharma (NASDAQ:FWBI) and increased the price target from $11 to $40. This significant adjustment reflects a positive outlook on the company's prospects.
January 03, 2024 | 6:16 pm
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POSITIVE IMPACT
First Wave BioPharma's stock may see a positive short term impact due to Roth MKM's maintained Buy rating and substantial increase in price target from $11 to $40.
Analyst upgrades typically lead to positive market reactions, especially when the price target is raised significantly as it suggests a strong conviction in the company's growth potential and financial health. Investors often view such changes as a signal to buy, which can drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100