Guggenheim analyst Debjit Chattopadhyay lowered the firm’s price target on Passage Bio (PASG) to $2 from $4 and keeps a Buy rating on the shares after updating the firm’s models following Q1 results. The firm revised its 2025 projections to reflect the 55% workforce reduction in January, leading to lower R&D and SG&A expense estimates, adding that it believes Passage will need to raise capital and increase its share count in the near future.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PASG:
- Passage Bio’s Strategic Positioning and Growth Potential: A Buy Rating Analysis
- Passage Bio: Steady Progress and Financial Stability Reinforce Buy Rating with $13 Target
- Passage Bio Reports Q1 2025 Financial Results
- Passage Bio Reports Q1 2025 Financial Results and Updates
- Passage Bio reports Q1 EPS (25c), consensus (22c)