Nuvectis Pharma price target lowered to $11 from $21 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis lowered the firm’s price target on Nuvectis Pharma (NVCT) to $11 from $21 and keeps a Buy rating on the shares after the company announced Q4 results and issued a corporate update. The firm is lowering its price target based on an adjustment to the fully diluted share count based, in part, on the February equity raise and adjustments to the timelines for NXP800 and NXP900 based on projected launch years being pushed out, the analyst tells investors.