Plus Therapeutics price target lowered to $12 from $37.50 at Maxim

Maxim lowered the firm’s price target on Plus Therapeutics (PSTV) to $12 from $37.50 and keeps a Buy rating on the shares. Following the company’s reverse stock split, the firm views its capital risk profile as elevated, driven by lower liquidity and leading to an increased cost of capital to fund operations, the analyst tells investors in a research note. Longer term, Maxim remains positive on the stock based on the LM – leptomeningeal metastases – opportunity as well as commercial upside on the CNSide opportunity.