Plus Therapeutics price target lowered to $1.50 from $3 at Maxim

Maxim lowered the firm’s price target on Plus Therapeutics (PSTV) to $1.50 from $3 and keeps a Buy rating on the shares. The company’s ReSPECT-LM Phase 2 dose-optimization study continues to enroll, with data expected in Q3, and following encouraging feedback from its recent Type B meeting with the FDA, Plus plans to advance into a potentially pivotal leptomeningeal metastases study after completion of the current dose-optimization phase, though the firm is adjusting its model to reflect the dilution from the company’s recent financing, the analyst tells investors in a research note.