BerGenBio target adjusted to NOK 38 from NOK 70 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis lowered the firm’s price target on BerGenBio to NOK 38 from NOK 70 and keeps a Buy rating on the shares post the Q2 report. The target change reflects the 1-for-100 reverse split in June and the recent 1-for-10 adjustment in nominal share value, the analyst tells investors in a research note. The firm says BerGenBio continues to advance bemcentinib through the Phase 1b/2a trial, BGBC016.