H.C. Wainwright analyst Swayampakula Ramakanth lowered the firm’s price target on X4 Pharmaceuticals (XFOR) to $3.50 from $7 and keeps a Buy rating on the shares. The firm updated the company’s model to reflect the Q2 report and private placement expected to close on August 13. The capital raised strengthens the balance sheet and aids in meeting the Hercules Loan covenant obligations, the analyst tells investors in a research note.
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