SWK Holdings price target lowered to $22 from $25 at Maxim

Maxim analyst Michael Diana lowered the firm’s price target on SWK Holdings to $22 from $25 but keeps a Buy rating on the shares. The analyst cites the company’s Q4 update, noting that its management no longer expects to receive any pharma milestone payments in 2023. Maxim is also reducing it FY23 EPS view to $2.00 from $2.22 due to the lack of milestone payments, though it remains positive on the stock thanks to SWK’s enhanced origination capacity at the healthcare specialty finance segment and the restructuring at the pharma development segment.