LeonaBio (LONA) Price Target Cut to $17 by Citizens Amid Pipeline Development

Citizens analyst Jason Butler reduced the price target on LeonaBio (NASDAQ: LONA) to $17.00 [from $18) and reiterated a Market Outperform rating.

The analyst commented, "Continuing to advance pipeline development; we reiterate our Market Outperform rating though decrease our risk-adjusted, DCF-derived price target to $17 from $18 on LeonaBio. LeonaBio reported 2Q26 financial results and business updates, reiterating timelines for top-line results from the ongoing Phase 3 ELAINE-3 trial in 2H27. The trial is on track to complete enrollment in 4Q26 and the company is actively engaged in commercial readiness activities, including CMC and regulatory preparations. LeonaBio ended 2Q26 with >$50MM in cash and is, in our view, well-funded to execute the ELAINE-3 trial."

For an analyst ratings summary and ratings history on LeonaBio click here. For more ratings news on LeonaBio click here.

Shares of LeonaBio closed at $7.97 yesterday.

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