Kiora Pharmaceuticals price target lowered to $2 from $12 at Maxim

Maxim analyst Michael Okunewitch lowered the firm’s price target on Kiora Pharmaceuticals to $2 from $12 but keeps a Buy rating on the shares. The company’s Q2 results were highlighted by its narrowed focus on the Rare Retinal Disease, the analyst tells investors in a research note. There is “still value in the stock”, but factoring the dilution associated with the June financing as well as the changes to the pipeline, the firm is reducing its price target.