9 Meters Biopharma price target lowered to $1.70 from $2.70 at Citi

Citi analyst Samantha Semenkow lowered the firm’s price target on 9 Meters Biopharma to $1.70 from $2.70 and keeps a Neutral rating on the shares. The company announced a $5M equity raise, which extends its cash runway into Q3 and allows for additional time to complete a partnership for vurolenatide in short bowel syndrome, the analyst tells investors in a research note. The firm says a "partnership overhang" remains on the shares.