Perspective Therapeutics price target lowered to $13 from $14 at Oppenheimer

Oppenheimer lowered the firm’s price target on Perspective Therapeutics (CATX) to $13 from $14 and keeps an Outperform rating on the shares following the company’s Q3 business update on Monday afternoon. The update follows recent positive results for VMT-alpha-NET presented at ESMO, with Perspective down 29% on the day, after competitor Sanofi (SNY)/Oranomed presented updated Alphamedix02 results with a 60% ORR in the same session. In Oppenheimer’s view key differences between the studies make this a more competitive story than the headline numbers suggest, keeping the firm cautiously optimistic.