X4 Pharmaceuticals price target lowered to $9 from $30 at Stifel

Stifel analyst Stephen Willey lowered the firm’s price target on X4 Pharmaceuticals (XFOR) to $9 from $30 and keeps a Buy rating on the shares following “a number of significant changes” over the past couple of weeks, most notably the “complete overhaul” of the senior leadership team and another recapitalization with the $85M PIPE deal. These changes increase the likelihood mavorixafor is “afforded the opportunity to fulfill its potential” in chronic neutropenia, which the firm believes to be “a multi-billiondollar addressable market opportunity of significant unmet medical need,” the analyst tells investors.