GeoVax Labs price target lowered to $8.50 from $15 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on GeoVax Labs (GOVX) to $8.50 from $15 and keeps a Buy rating on the shares. The target cut reflects the funding pause of the BARDA Project NextGen and likely halting of the upcoming Phase 2b trial, as well as the general uncertainty related to COVID-19 vaccines going forward, the analyst tells investors in a research note.