Piper Jaffray Downgrades GPC Biotech (GPCB) to Underperform
Piper Jaffray downgrades GPC Biotech (Nasdaq: GPCB) from Outperform to Underperform and reduced its price target from EUR15.40 to EUR2.30. The firm expects GPC Biotech to face numerous challenges in the next year, mainly due to failed further approval of its satraplatin.
GPC Biotech AG is a biopharmaceutical company engaged in the discovery, development and commercialization of new drugs to treat cancer.
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