Piper Sandler analyst David Amsellem lowered the firm’s price target on Definium Therapeutics (DFTX) to $48 from $49 and keeps an Overweight rating on the shares following quarterly results. Taking a step back, the firm remains highly confident in Phase III success for DT120 in both major depressive disorder and generalized anxiety disorder, given the body of data to date. Piper continues to view DT120 as a potentially transformative approach to the treatment of both MDD and GAD, with psychiatrist feedback pointing to a wide patient footprint for the product.
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