Lantheus downgraded to Hold at Truist on Pylarify uncertainty

As previously reported, Truist downgraded Lantheus (LNTH) to Hold from Buy with a price target of $63, down from $111. While the firm “appreciates” the stock’s selloff reflects “a lot of Pylarify uncertainty already,” it thinks the multiple is going to be linked to Pylarify trends and it sees year-over-year and quarter-over-quarter deceleration as now on tap for “at least” another two quarters. While the firm still sees “underappreciated value” to the long-term pipeline, it believes shares could “mark time” for the next six months or so until there is more certainty that the second half is the bottom for Pylarify after two quarters of misses and lowering linked to it.