Viracta Therapeutics price target lowered to $4 from $6 at RBC Capital

RBC Capital lowered the firm’s price target on Viracta Therapeutics to $4 from $6 and keeps an Outperform rating on the shares after its Q2 results. The company indicated it will now focus Nana-val’s development to second-line EBV+ PTCL – or EBV-positive peripheral T-cell lymphoma – which represents a narrower addressable market opportunity, but the news is balanced by the improved clarity on Nana-val’s registration path forward following the alignment with FDA on potential accelerated approval filing based on Naval-1 single-arm expansion cohort in 2026 and the RCT study to support full approval, the analyst tells investors in a research note.