Landos Biopharma (LABP) PT Lowered to $30 at Jefferies

Jefferies analyst Chris Howerton lowered the price target on Landos Biopharma (NASDAQ: LABP) to $30.00 (from $32.00) while maintaining a Buy rating.

The analyst commented, "Following recent leadership transition with new Chairman and interim CEO, Co announced to strategically re-prioritize pipeline optimizing clinical development and capital allocation. As a result, Co expects to be focused on omilancor, NX-13 and LABP-104, and plans to start a Ph2b vs. Ph3 for omilancor in UC and reassess Ph2 powering in CD. We see this a sensible move and update our PT to $30 (vs. prev. $32) to reflect new pipline plan. We maintain Buy rating."

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