Seems like a temporary downgrade * After a first-quarter miss, National Bank’s Endri Leno lowered his Theratechnologies Inc. (
) target to $2.25 from $3.25, keeping a “sector perform” rating. The average is $4.65.
“Our forecasts remain unchanged (in line with guidance) given the fQ1 prescription growth – the latter is expected to contribute to results in coming of quarters,” said Mr. Leno. “However, given the risk associated with the catch up to achieve guidance, we lower our target multiples for both EGRIFTA and Trogarzo.”