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.
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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)
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