G1 Therapeutics shares are trading lower after Needham maintained a Buy rating and lowered its price target from $14 to $12. Also, Wedbush maintained an Outperform rating on the stock and lowered its price target from $5 to $4.
Portfolio Pulse from Benzinga Newsdesk
G1 Therapeutics' stock price is trading lower following adjustments in price targets by Needham and Wedbush. Needham maintained a Buy rating but reduced its price target from $14 to $12. Similarly, Wedbush kept its Outperform rating but lowered its price target from $5 to $4.
February 13, 2024 | 5:48 pm
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NEGATIVE IMPACT
G1 Therapeutics' stock is trading lower after Needham and Wedbush adjusted their price targets downwards, despite maintaining positive ratings.
The reduction in price targets by Needham and Wedbush, despite maintaining positive ratings, suggests a recalibration of expectations towards G1 Therapeutics' future performance. This adjustment likely reflects new data or market conditions affecting the company's outlook. The immediate market reaction, a decrease in stock price, indicates investor concern over the revised forecasts. However, the maintained positive ratings suggest underlying confidence in the company's long-term potential, which might mitigate the negative impact over time.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100