H.C. Wainwright lowered the firm’s price target on Elevation Oncology (ELEV) to $1 from $6 and keeps a Buy rating on the shares after the company announced its intention to discontinue development of EO-3021 based on lower-than-expected efficacy achieved by the drug in its ongoing Phase 1 study. The firm has removed EO-3021 related revenues from its model and accounts for EO-1022 related revenues beginning in 2031 as well as adjusted expenses according to management guidance.
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Read More on ELEV:
- Elevation Oncology downgraded to Neutral from Overweight at Piper Sandler
- Elevation Oncology’s Strategic Shift and Financial Stability Justify Hold Rating
- Elevation Oncology downgraded to Market Perform from Outperform at Citizens JMP
- Strategic Shift and Promising Developments Drive Buy Rating for Elevation Oncology
- Elevation Oncology: Strategic Shift and Workforce Reduction Amid Clinical Setback
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