Century Therapeutics price target lowered to $5 from $12 at Guggenheim

Guggenheim analyst Kelsey Goodwin lowered the firm’s price target on Century Therapeutics (IPSC) to $5 from $12 and keeps a Buy rating on the shares. Century Therapeutics reported FY24 results and a business update that included a pre-planned pipeline re-prioritization, and announced the discontinuation of CNTY-101 in relapsed and refractory non-Hodgkin lymphoma in the ELiPSE-1 trial, which was largely expected by the Street, the analyst tells investors in a research note. The firm views Century as a differentiated player in the large autoimmune space in the near-term, and a leader in the field of induced pluripotent stem cell-derived cell therapies longer term.