Petros Pharmaceuticals price target lowered to $1 from $4 at Maxim

Maxim lowered the firm’s price target on Petros Pharmaceuticals to $1 from $4 and keeps a Buy rating on the shares. Petros reported Q2 revenue down 27% year over year and a net loss of ($2.7M) and is not strategically prioritizing the sales of Rx Stendra or its Vacuum Erection Devices, the analyst tells investors in a research note. Maxim remains positive on Petros’ OTC Stendra development due to the consistently positive data, but thinks Petros will eventually require a financing.