UPDATE: First Wave BioPharma, Inc. (FWBI) PT Lowered to $25 at Roth Capital

(Updated - August 31, 2022 4:17 PM EDT)

Roth Capital analyst Jonathan Aschoff lowered the price target on First Wave BioPharma, Inc. (NASDAQ: FWBI) to $25.00 (from $270.00) while maintaining a Buy rating.

The analyst comments "FWBI's abstract titled “Formulation Development of Enterically Protected Spray Dried Dispersions of Adrulipase,” was accepted for presentation at the AAPS 2022 PharmSci 360 conference in mid-October. Owing to FWBI's recent 1 for 30 reverse stock split and adjustments to our valuation, our price target is now $25."

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