RBC Capital analyst Leonid Timashev lowered the firm’s price target on Pyxis Oncology (PYXS) to $8 from $10 and keeps an Outperform rating on the shares. The company’s pipeline update to prioritize PYX-201 over further investment in PYX-106 is “prudent” given the early signs of activity and the operating expense savings that will be leveraged to continue to advance PYX-201 development, though the firm is reducing its price target on lower “pipeline optionality”, the analyst tells investors in a research note.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PYXS:
- Pyxis Oncology to prioritize PYX-201, suspends investment in PYX-106
- RBC ups Pyxis Oncology target, says buy shares on selloff
- Pyxis Oncology reported ‘compelling’ cancer dataset, says H.C. Wainwright
- Pyxis Oncology downgraded to Market Perform from Outperform at William Blair
- Closing Bell Movers: Nvidia down slightly after Q3 results