Monopar Therapeutics (MNPR) saw its stock price plummet 7.48% in pre-market trading on Friday, following a downgrade from Raymond James. The investment firm lowered its rating on Monopar from Strong Buy to Outperform and cut its price target from $142 to $123.
The downgrade appears to have overshadowed positive sentiment from other analysts. Oppenheimer reiterated its Buy rating with a $115 price target, while BTIG maintained its Buy rating with a $104 target. Despite these bullish views, investors seem to be focusing on Raymond James' more cautious stance.
According to FactSet, Monopar Therapeutics still maintains an average rating of Buy among analysts, with a mean price target of $112. This suggests that while Raymond James has tempered its outlook, the overall sentiment remains positive. However, the market's sharp reaction indicates that investors are reassessing their expectations for the company in light of the downgrade.
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