In a report released yesterday, Michael Ulz from Morgan Stanley maintained a Hold rating on Third Harmonic Bio, Inc. (THRD – Research Report), with a price target of $5.23.
Michael Ulz’s rating is based on the recent announcement by Third Harmonic Bio, Inc. to liquidate and dissolve the company, which is expected to occur in the third quarter of 2025. The company plans to distribute the remaining cash to shareholders, with an estimated range of $5.13 to $5.33 per share. This decision follows challenges faced by their lead program, THB335, which has raised concerns about its competitive profile due to safety issues observed in Phase 1 trials.
Given these developments, Michael Ulz has maintained a Hold rating, reflecting a cautious stance as the company winds down operations. The price target has been modestly increased to $5.23, aligning with the midpoint of the anticipated distribution range. This rating suggests a neutral outlook, acknowledging the potential cash distribution to shareholders while also considering the uncertainties surrounding the company’s strategic alternatives and asset sales.
According to TipRanks, Ulz is an analyst with an average return of -9.8% and a 33.68% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Alnylam Pharma, and Viking Therapeutics.