Biodexa Pharmaceuticals price target raised to $18 from $8 at Ladenburg

Ladenburg raised the firm’s price target on Biodexa Pharmaceuticals (BDRX) to $18 from $8 and keeps a Buy rating on the shares. The company recently announced plans to submit eRapa, a nanoparticle formulation of sirolimus coated with pH-sensitive polymers, for European Medicines Agency conditional approval in familial adenomatous polyposis patients in Q4, the analyst tells investors in a research note. The firm adjusted its price target to reflect Biodexa’s adjusted American depository receipt share ratio from 1:400 to 1:10,000.