Vincerx Pharma price target lowered to $2 from $4 at Leerink

Leerink analyst Jonathan Chang lowered the firm’s price target on Vincerx Pharma to $2 from $4 and keeps an Outperform rating on the shares. The firm notes Vincerx Pharma provided an early but encouraging data update from the VIP943 program, along with a pipeline re-prioritization announcement and updated cash runway guidance. Leerink continues to view clinical execution to be of utmost importance as the company works under a constrained cash runway. The firm is updating its model to incorporate the VIP943 data update, the deprioritization of VIP236.