Anebulo Pharmaceuticals price target lowered to $3 from $6 at Maxim

Maxim lowered the firm’s price target on Anebulo Pharmaceuticals (ANEB) to $3 from $6 and keeps a Buy rating on the shares after its Q3 results. The company is prioritizing the advancement of IV selonbant into a Phase 1 SAD study in healthy adults, and the firm adjusting its price target to reflect this pivot, though Maxim remains positive on Anebulo given the unmet need in severe cannabis toxicity, the analyst tells investors in a research note.