Leap Therapeutics price target lowered to $17 from $20 at Raymond James

Raymond James analyst David Novak lowered the firm’s price target on Leap Therapeutics to $17 from $20 and keeps an Outperform rating on the shares following the reverse stock split and approval of preferred stock conversion incurred during the acquisition of Flame Biosciences. Raymond James thinks risk/reward setup is favorable with several catalysts in the next 12 months and sufficient cash to fund operations into mid-2025, the analyst tells investors in a research note.