Stifel lowered the firm’s price target on X4 Pharmaceuticals (XFOR) to $4 from $5 and keeps a Buy rating on the shares. Sequentially flat Xolremdi sales would seem to suggest that inventory build, and not new patient starts, likely accounted for most of Q2 reported sales, notes the analyst, who adds that the pace of patient screening/onboarding is “meaningfully slower” than the firm’s and Street’s expectations. The firm’s reduced price target mostly reflects lower FY24 and later Xolremdi estimates and revised financing assumptions, the analyst noted.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter