Windtree Therapeutics (WINT) PT Raised to $7 at H.C. Wainwright

H.C. Wainwright analyst Vernon Bernardino raised the price target on Windtree Therapeutics (NASDAQ: WINT) to $7.00 (from $1.00) while maintaining a Neutral rating.

The analyst commented: "Adjusting PT to reflect reverse stock split. We are updating our models and PT on Windtree Therapeutics to reflect developments that occurred in 1H24. Foremost, on April 19, 2024, the company effected a 1-for-18 reverse split of its outstanding common stock, which with our prior PT of $1.00 was equivalent to $13 on a post-reverse-split basis. We establish a new post-reverse stock split 12-month PT of $7.00, and reiterate our Neutral rating. Until we get a top-line readout from Windtree’s small, ongoing follow-on studies with istaroxime, we believe the stock could be range-bound prior to appreciating to our new PT. We look for study results, if positive, to support istaroxime’s advancement into Phase 3 testing, and thus, provide rationale to re-evaluate our rating and PT."

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